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You know when Adidas was worried that all the controversy around Ye (formerly known as Kanye West) would tank the profits for the brand?
Well, it seems the tides have turned for the retailer. After it started selling the shoes again in May, it took orders for 4 million pairs of Yeezy shoes worth $565 million, the Financial Times reported, exceeding the company’s “most optimistic forecast.”
Adidas said it would donate profits from some of the sales to organizations fighting antisemitism and racism, but how much each individual charity would be entitled to remains TBD, per the Financial Times.
The controversy stems from a series of antisemitic comments Ye made in October 2022, after which Adidas terminated its contract with the rapper and paused Yeezy sales. The brand was then left with $1.3 billion worth of unsold shoes and apparel it wasn’t sure what to do with, leading to speculation that the inventory might be destroyed.
Adidas CEO Bjørn Gulden quelled those concerns when he said the retailer would sell some of the unsold stock after all, and that “burning the goods would not be a solution.”
The German sneaker company took a loss of $540 million in the final quarter of 2022 due to the failed partnership, but the latest figures seem to be making up for it.