Adidas has received orders for 4 million pairs of unsold Yeezy sneakers totaling more than 508 million euros, exceeding the company’s “most optimistic forecast.”
According to the Financial Times, the initial round of orders might spare the German sportswear company from having to take a significant writedown on its remaining stock.
Following a string of antisemitic remarks made by the rapper formerly known as Kanye West on social media and in interviews, Adidas ceased selling the Yeezy trainers from its dissolved association with Ye in October.
The German sportswear company’s first-quarter sales were down by almost $440 million as a result of losing the highly profitable division.
The Yeezy brand might have become too toxic as a result of Ye’s antisemitic outbursts and a recent decline in marketing, but strong demand for the unsold trainers has allayed concerns at Adidas’ headquarters.
The business had announced in May that it would contribute a portion of the sales revenue to nonprofits battling racism and antisemitism.
The corporation has chosen five organizations in the US and China as a first step, according to the FT, adding that discussions over how much will be contributed to specific charities are still underway.
“Donations totaling more than 8.5 million euros for the five charities have been considered, but none have been finalized.
