Adidas is one step closer to cutting its ties to rapper-turned-fashion designer Kanye West. In 2022, the German athletic brand ended its working relationship with the Def Jam artist after he exhibited questionable behavior and made outlandish comments about Jewish people and George Floyd, a Black man killed by Minneapolis police.
The problem was that Adidas had a huge amount of inventory left after the split, so the company decided to sell them, vowing to give a portion to charity and also give Ye a royalty check since the products were birthed from his mind.
According to the Financial Times, the first batch went on sale in June and sold four million pairs of sneakers within 48 hours. Adidas offered 15 Yeezy models ranging from $70 to $260 for customers to cop—and most of them went fast. In total, the company raked in $565 million for the online sale.
A portion of the profits, which might be as much as $9 million went to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, founded by George Floyd’s brother.
While Ye, whose current net worth is reportedly $500 million, did get a royalty check, the amount remains undisclosed.
Adidas CEO Bjørn Gulden said earlier in the year that the company will “probably not make a profit” on the sale of the Yeezy sneakers and took a huge loss this year because of Kanye’s comments and erratic behavior.
