Kanye West has reportedly pocketed $25million from adidas in just 24 hours after leftover Yeezy stock from the pair’s dysfunctional partnership flew off the shelves this week.
The German sports giant severed ties with Ye last year after the mogul made a string of antisemitic remarks in interviews and across social media.
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After terminating their contract, the company initially was reluctant to release the remaining Yeezy items it had in storage but ended up announcing that it would be selling off the backlog to the public, and in turn would donate a portion of the profits to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.
“After careful consideration, we have decided to begin releasing some of the remaining adidas Yeezy products,” CEO Bjorn Gulden said in a statement on Wednesday (May 31). “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”
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The first of three drops planned for “Yeezy Day 2023” kicked off on Wednesday and was reportedly a roaring success, with most of the available Yeezey stock being purchased quickly. Instagram account @Kanyewestaurant_ claimed that over 682,300 pairs of Yeezy sneakers were purchased, which would allegedly equate to a $25million payday for Kanye West.
However, it’s worth noting the final sales figure may change as it’s not clear if it factors in adidas’ planned donations, which in turn would change Ye’s royalty check figure.
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Ye and adidas had reached an agreement about the remaining Yeezy stock back in February, with the hopes that selling off the remaining items would allow the athletic company to make up for the massive projected loss it reported earlier this year.
The brand directly blamed Ye for the financial loss stemming from their severed partnership, which so far is estimated to be around $1.3billion in 2023. adidas had previously claimed in November it was going to repurpose said designs under a different name, though that didn’t end up happening.
“We are currently not performing the way we should,” Gulden wrote in a statement at the time, adding 2023 will serve as a transitional year for the company.
Despite being criticized for months over his repeated antisemitic comments, and despite the pushback and financial loss he’s endured, Ye continued to double down on his love of bigoted German mass murderer Adolf Hitler. While he’s since gone radio silent, his ex-wife Kim Kardashian recently said Kanye’s “shenanigans” this past year would do far more damage to their children than her infamous 2007 sextape with Ray J.
“Even just how he looks so down on me for my tape and brings it up all over town, all over the media — thanks for reminding people once again,” Kim K said on the season 3 premiere of The Kardashians. “All of his shenanigans — I don’t even know what the fuck to call it — is going to be far more damaging to the kids one day than my tape will ever be.
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“And I have to sit here and not say anything ever because I know one day my kids will appreciate that and I know that, like, is the best thing for that.”
