
Adidas sells off Kanye West’s Yeezy stockpile, bringing in $1.52 billion in two years
Adidas partnered with Kanye West in 2015 to launch Yeezy, boosting his net worth to $2 billion in 2022.
Adidas partnered with Kanye West in 2015 to launch Yeezy, boosting his net worth to $2 billion in 2022.
Renowned rapper turned business mogul Kanye West stunned the industry by revealing a staggering single-day revenue of $19.3 million from the sales…
Adidas held over $1 billion worth of unsold Yeezy inventory in May.
Last year, Adidas ended its lucrative collaboration with West following a series of offensive and antisemitic comments.
In May, Adidas announced its decision to sell off the inventory of Yeezy sneakers created in partnership with West.
Adidas claims that $75 million was transferred to two of Yeezy and West’s bank accounts, but both parties “mishandled virtually all of the marketing funds.”
Adidas will sell $1 billion worth of Yeezy shoes made with Kanye West.
Despite recent setbacks, West remains one of the world’s richest Black individuals.
West is one of the world’s richest Black people.
Sawiris is Egypt’s richest man and one of Africa’s wealthiest billionaires.
The accusations come nearly nine years after he signed a lucrative multiyear deal with Adidas to design the Yeezy brand.