Adidas brings in $437 million from Yeezy shoes that will benefit anti-hate groups

The blow-up of the Ye partnership put Adidas in a precarious position because of the popularity of the Yeezy line, and it faced growing pressure to end ties last year as other companies cut off the rapper.

The blow-up of the Ye partnership put Adidas in a precarious position because of the popularity of the Yeezy line, and it faced growing pressure to end ties last year as other companies cut off the rapper.

Adidas said it now expects to report an operating loss of 450 million euros this year instead of 700 million euros.

Yeezy revenue from June were “largely in line” with sales seen in the same April-to-June period last year, Adidas said.

Adidas has not said how many shoes it is selling or whether Ye is receiving royalties from the sales.

It has only said that “we will honor our contractual obligations and enforce our rights but will not share any more details.”

Adidas brought in 400 million euros ($437 million) from the first release of Yeezy sneakers left over after breaking ties with Ye, the rapper formerly known as Kanye West, as the German sportswear maker tries to offload the unsold shoes and donate part of the proceeds to groups fighting antisemitism and other forms of hate.

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