Kanye West and his Yeezy brand continue to make waves in the sneaker world. Despite ending his partnership with adidas, the Yeezy brand remains popular. The restocks on May 31st and June 1st were a huge success, earning over $25 million in just 24 hours. Let’s look at the details of these releases.
The end of a partnership, but not the end of success
Kanye West’s partnership with adidas may have ended, but the Yeezy brand is still very popular. Adidas had a large amount of Yeezy stock, valued at over $500 million. Their plan was to sell this stock. On the first day of the restocks, 682,300 pairs of Yeezys were sold, generating $170.5 million. Kanye West, despite no longer being partnered with adidas, still receives a 15% royalty from the sales of Yeezy products. This means he earned over $25 million from the first day of sales alone.
A positive outcome for Adidas
The Yeezy restocks have not only been profitable for Kanye West, but also for adidas, which has managed to significantly reduce its Yeezy stock. Additionally, adidas has committed to donating a portion of the proceeds to international organizations that support groups that have been affected by Kanye West’s controversial statements.
The future of Yeezy
Even though the partnership with adidas has ended, the future of Yeezy looks promising. Kanye West has moved his Yeezy headquarters to Los Angeles, close to adidas’ offices. He is reportedly planning a new collection of Yeezy sneakers, indicating that the brand will continue to be a major player in the sneaker market.
The recent Yeezy releases have shown that the brand’s popularity remains high despite the end of Kanye West’s partnership with adidas. With over $25 million earned in just 24 hours, it’s clear that Yeezy continues to be a major player in the sneaker market. It will be interesting to see what new directions the brand will take under Kanye West’s leadership.
What do you think about these results, despite the recent news about the artist?