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Adidas gets $565 million in orders for first batch of unsold Yeezy shoes- FT
2023.07.24 00:50
© Reuters. FILE PHOTO: Adidas Yeezy shoes are seen in a store on the day Adidas terminated its partnership with the American rapper and designer Kanye West, now known as Ye, in Garden City, New York, U.S., October 25, 2022. REUTERS/Shannon Stapleton/File Photo
(Reuters) – Adidas (OTC:) has received orders worth more than 508 million euros (about $565 million) for the first batch of online sales of its unsold inventory of Yeezy shoes, the Financial Times reported on Monday.
Adidas got orders for 4 million pairs across May and June, more than it expected, and it was unable to meet the demand, the FT reported, citing people familiar with the matter.
The company said in May it would start selling some of the Yeezy shoes from its defunct partnership with Ye, the rapper formerly known as Kanye West, at the end of May and planned to donate some of the proceeds to organisations fighting antisemitism and racism. ($1 = 0.8992 euros)
