Adidas received orders worth more than 508 million euros (about $565 million) for 4 million unsold Yeezy shoes, exceeding the company's forecast, the Financial Times reported on Monday. Strong demand for the first batch of online sales will be able to save the German sportswear company from having to issue a large write-up on the remaining products, the newspaper said. Adidas stopped selling Yeezy shoes from its original collaboration with Ye in October after the rapper formerly known as Kanye West made several anti-Semitic comments. The loss of the highly profitable line accounted for about $440 million of the company's first-quarter sales. However, the strong demand for unsold sneakers has led to fears at the headquarters of Adidas that you are leaking and the sales stop in the past could make the Yeezy brand toxic, FT said, citing sources. Adidas declined to comment, saying it is in a "quiet period" before quarterly results are due by Aug. 28. 3.
The company said in May that it would donate a portion of its sales revenue to organizations fighting anti-Semitism and racism. Discussions about how much money to give to individual charities are ongoing, the FT reported, adding that the company had previously selected five charities in the United States and China. "The possibility of giving more than €8.5 million to five charities has been discussed but no decision has been made," the FT said, citing people familiar with the matter. The final amount from the sale will be large as the company is willing to pay a large amount of profit for Yeezy products, according to the report. Adidas predicted a loss this year before announcing plans to sell the remaining Yeezy products.
