Adidas found itself in a bit of a jam a few months ago thanks to the likes of Kanye West. The famous artist decided to go on a pretty wild tirade against Jewish people. Overall, some felt it was just a ploy to get out of his business deals. However, once he started hanging out with Nick Fuentes and going on Info Wars, it became clear that he had lost it. Consequently, the three stripes brand cut ties with Ye, and immediately tried to move on. Unfortunately, that proved to be almost impossible.
The brand quickly realized that it had over $1 billion worth of Yeezy inventory in its warehouses. With profits suffering, Adidas decided to cut a deal with Kanye to sell off the rest of the inventory, once and for all. Once the stock gets sold, Ye and Adidas are done for good. Well, a new restock is happening this week, and many are expressing curiosity over how well the first one went. According to reporting from Rolling Stone, it is a move that definitely worked out in Adidas' favor.
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Adidas Gets Some Money Back
As the publication reports, Adidas was able to sell $437 million worth of Yeezys. However, not all of this is going to Adidas directly. Some of this money has to go to Kanye. Moreover, the brand has pledged funds to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change. They are doing this as a way to make up for some of the harm that was done by Ye's disastrous press run.
With another restock upon us, there is no doubt that the brand will recoup a whole lot more cash. Let us know if you will be copping anything, in the comments section below. Additionally, stay tuned to HNHH for the latest news from around the sneaker world.
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