Adidas, the German sports shoe giant, is heaving a sigh of relief. They’ve just got a whopper of order – a staggering 508 million euros (or around $565 million) for four million pairs of unsold Yeezy shoes. This is a big deal, as it saves them from taking a heavy hit on leftover stock.
Why were they stuck with the shoes in the first place? Well, the rapper previously known as Kanye West, who’s behind the Yeezy brand, made some statements that ruffled feathers. This led to a drop in sales, and Adidas stopped selling the shoes. But now, the high demand for the unsold Yeezys proves the brand is still in good standing, despite all the drama.
But there’s a twist to the story. Back in May, Adidas donated some of the money from Yeezy sales to fight against antisemitism and racism. They’ve picked five charities in the US and China to receive the donations. The exact amount to be given is still being figured out, but Adidas is committed to making a big chunk of the Yeezy profits towards these important causes.