Adidas and Kanye West’s YEEZY Collaboration Earns $85 Million in Profit
UPDATE (2023/7/25): In a surprising turn of events, the recent YEEZY product replenishment by adidas has generated even higher profits than initially reported. Early in June, it was estimated that Kanye West’s brand earned $25 million in profit. However, recent data suggests that the actual figure is much larger.
According to The Times, the first day of sales saw approximately 4 million orders, bringing in a staggering $565 million in revenue for adidas. Considering Kanye West’s 15% commission, his actual profit from the sale of YEEZY products is now estimated to be close to $85 million.
What’s commendable is that adidas has fulfilled its promise to contribute a portion of the proceeds to anti-Semitic and racist organizations, totaling more than $9 million. This demonstrates the brand’s commitment to combating discrimination and supporting worthy causes.
It seems that adidas has hit the jackpot with the YEEZY collaboration, and if all goes well, they plan to continue releasing new YEEZY products in the future. Industry insiders speculate there might even be a large-scale return of YEEZY items in August. Enthusiasts of the brand are encouraged to stay tuned for upcoming collections.
ORIGINAL TEXT (2023/6/2): It’s been a highly anticipated moment for YEEZY fans as adidas announces the return of their joint product inventory. Finally, after much anticipation, the first wave of sales has been released.
Statistics reveal that the first day of sales garnered impressive results, with a total of approximately 682,300 pairs of shoes sold, amounting to a remarkable $170.5 million in revenue. As per the contract between adidas and YEEZY, the latter is entitled to a 15% profit share. Therefore, YEEZY has earned a substantial $25.6 million from this launch.
With the prospect of more shoe styles being reintroduced, it is highly likely that adidas and YEEZY will continue to enjoy considerable sales and success. Moreover, adidas has expressed their intention to donate a portion of the proceeds to international organizations offended by Kanye West’s past controversial remarks. This shows their dedication to making amends and supporting important causes.
The successful collaboration between adidas and YEEZY has undoubtedly proven to be financially lucrative. Fans can expect more exciting releases in the future, and the partnership’s positive impact extends beyond just fashion and profits.