Tuesday, October 3, 2023

Adidas Gets Order Worth $565 Million for Unsold Yeezy Shoes

Adidas received orders worth a massive 508 million euros (approximately $565 million) for 4 million pairs of unsold Yeezy shoes, which is even better than they expected. This positive outcome has brought relief to the German sportswear company as it prevents them from facing significant losses on the remaining stock.

Earlier, Adidas had stopped selling Yeezy shoes after controversial remarks were made by the rapper formerly known as Kanye West, which resulted in a decline in sales. However, the strong demand for the unsold sneakers has reassured Adidas that the Yeezy brand is not negatively impacted by recent events.

As a response to the situation, Adidas had announced in May that they would donate a portion of the proceeds from Yeezy sales to organizations fighting against antisemitism and racism. They have already selected five charities in the United States and China for this purpose, and discussions are ongoing to decide the exact amount to be donated. Adidas is committed to making a substantial contribution from the Yeezy profits to support these important causes.

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