[AP News] Adidas brings in $437 million from the first Yeezy sale. Part of that will go to anti-hate groups - eviltoast
  • AutoTL;DR@lemmings.worldB
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    1 year ago

    This is the best summary I could come up with:


    The first batch of shoes released in June, which sold out, helped the company reach an operating profit of 176 million euros in the second quarter, better than it originally planned, Adidas said Thursday.

    After Ye’s antisemitic and other offensive comments led the company to end its partnership with the rapper in October, Adidas said it had sought a way to dispose of 1.2 billion euros worth of the high-end shoes in a responsible way.

    “This is much better than destroying and writing off the inventory and allows us to make substantial donations to organizations like the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change and Robert Kraft’s Foundation to Combat Antisemitism,” Gulden said.

    Adidas also warned that the first sale included the highest-priced shoes and sold out completely but that it wasn’t clear whether the remaining releases would see similar price levels and demand.

    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.


    I’m a bot and I’m open source!

  • LexiconDexicon@lemmy.world
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    1 year ago

    So they stole money from a black person

    What a surprise. Nothing changes in this world, white people are still nazis and incredibly racist towards black people