Kanye Fans Celebrate Adidas Selling Yeezy Stock
Kanye West fans are celebrating Adidas and the star restoring their partnership, resuming the sales of Yeezy stocks.
We are guessing the world was holding its breath to see what Adidas would do with the remaining Yeezy stock. Of course, everyone, including us, was wondering if they would take a $1.3 billion loss and move on like that.
If you’re late to the party, we will update you. Last year, Kanye West made anti-Semitic remarks that finally cost him something. The rapper seemed to be unable to claw his way out of that. It cost him his partnership with Adidas and, in turn, cost the brand millions of dollars.
According to reports, since ending their partnership with Ye, Adidas lost hundreds of millions of dollars in seven months. Ouch! The brand was also left with millions of Yeezys they couldn’t sell because of the ended partnership. However, things changed last Thursday.
Adidas CEO Bjørn Gulden announced at the annual shareholder meeting that the company would resume selling the remaining stock. Proceeds from the profit will be donated to charity. “What we are trying to do now over time is to sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements.” Ye fans have been celebrating the news of Twitter.
Kanye is the guy he thinks he is , Adidas recorded a loss and folded they are selling Yeezys again and he is getting his coins lol pic.twitter.com/5YpKQYheNG
— The Instigator (@Am_Blujay) May 11, 2023
Kanye West Yeezy loss is hurting us, admits Adidas https://t.co/Eaty2WrbJa
— BBC News (UK) (@BBCNews) May 5, 2023
Kanye singlehandedly collapsed Adidas earnings.
— Sentletse 🇷🇺🇿🇦 (@Sentletse) May 12, 2023
If that stock Adidas is stuck with is worth $1.5BN and Kanye getting 15% that's about $225M for Kanye this year. Jordan gets 5% now after all these years of success. Kanye is already on 15%. Next deal he'll be on 30% and they'll make sales of $3BN+ off this hype. $900M for Ye lol https://t.co/rF992X8WJv
— Mandela Mwanza (@thirdeyemalawi) May 12, 2023