Adidas has brought in $437 million from the first release of Yeezy sneakers left over after breaking ties with Ye, the rapper formerly known as Kanye West. The German sportswear maker is donating part of the proceeds to groups fighting antisemitism.
“This is much better than destroying and writing off the inventory and allows us to make substantial donations to organizations like the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change and Robert Kraft’s Foundation to Combat Antisemitism,” Gulden said.
The Adidas chief executive added that the Yeezy sales are “of course also helping both our cash flow and general financial strength.” Yeezy revenue from June were “largely in line” with sales seen in the same April-to-June period last year, Adidas said.
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