Following the breakup between Kanye West (officially Ye) and adi, the sportswear titan made a move on the remaining inventory of YEEZY stock – and that’s when we witnessed a big drop of YEEZYs in June.
The inventory release of YEEZYs which happened globally from 31 May to sometime in early June, clocked in a jaw-dropping $565 million in sales, according to the Financial Times.
Per the Financial Times report, the demand for Yeezy sneakers was overwhelming – an astounding 4 million pairs were sold online, resulting in approximately 4 million pairs of orders. However, even with such a huge number of sales, adidas was unable to fulfill all the 4m orders.
Last year, following Kanye West’s antisemitic comments, adidas parted ways with him, leaving them with approximately $1.2 billion worth of excess sneakers, and that’s when both parties decided what to do with the remaining inventory.
In May 2023, adidas made a notable announcement regarding the sale of the remaining YEEZY stockye. Nevertheless, the Three Stripes company emphasized its commitment to social responsibility by disclosing that a substantial portion of the profits would be allocated to selected organizations actively engaged in combating discrimination and hate, including racism and antisemitism.
More than $9 million is in place to be donated to five charities in the U.S. and China, Financial Times reported.
So far, adidas is riding high on the wave of soaring demand, and it’s expected to help them bounce back from their first-quarter losses.
This August, we might see the highly anticipated drop of the second batch of YEEZYs, boasting an impressive lineup that includes on-demand models like foam runners, slides, and 350 V2s, amongst others.
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