Kanye West seemed to have benefitted the most from the Adidas decision to sell some of the unsold Yeezys worth $1.3 billion, given the sneakers are selling like hot cake and the rap star has reportedly netted $85 million from the current sales.
According to The Financial Times, the slick sneakers had four million pieces sold within 48 hours previously.
Gauging from the strong sales, the ballpark figure estimated to land with the fashion mogul depending on his 15% royalty share would be $85 million so far, as per HypeBeast.
In March, the multi-billion company CEO Bjørn Gulden shared that the company “probably not make a profit” on its unsold Yeezy stock.
But, the impressive demand for the Yeezy sneakers continued sans any stop, despite its founder tainted past.
And as reports suggest, Adidas’ abrupt decision to call off its long-held relationship with the controversial hip-hop star also played a hand in shooting up the demand for the sneakers.
Soon after their divorce, the Yeezy became highly sought-after in the retail market, which, in return, also boosted the company sales when they put them for sale.
Moreover, the company also reiterated that a substantial chunk of the proceeds will be forwarded to different civil society groups such as Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, founded by George Floyd’s brother.
Further, an additional $9 million-plus will be donated to these organizations whose cause faced irreparable damage by West’s toxic rhetoric last year.
[Via]
