Adidas rakes in orders for unsold Yeezy shoes: FT
STORY: Kanye West fans still really want Yeezy shoes.
Sportswear firm Adidas has got orders worth about $565 million for 4 million pairs of unsold shoes designed by the rapper.
That's according to Britain's Financial Times on Monday (July 24).
The massive orders are reportedly better than the company's most 'optimistic forecast'.
The FT said strong demand for the first batch of online sales would save Adidas from taking a big writedown on its remaining stock.
The German sportswear giant stopped selling Yeezy shoes in October last year.
It ended its partnership with Ye - formerly known as Kanye West - after he made antisemitic comments.
The tie-up had been highly profitable.
So ending the deal hit Adidas first quarter sales by around $440 million.
But the FT said strong demand for unsold sneakers had calmed fears at the firm that Ye's outbursts had made the Yeezy brand too toxic.
Adidas declined to comment.
The company said in May it would donate some of the proceeds from the sales to organizations fighting antisemitism and racism.
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