Even though Kanye West’s partnership with Adidas is over, he is still reaping the benefits.
As AfroTech previously reported, Adidas disclosed its plans for leftover Yeezy merchandise, revealing products would return to store shelves, with a portion of proceeds going to charities that were harmed by Kanye’s antisemitic remarks.
“After careful consideration, we have decided to begin releasing some of the remaining Adidas YEEZY products,” Adidas CEO Bjørn Gulden said in an official statement, as AfroTech previously reported. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities.”
The first release included 682,300 pairs of Yeezy shoes, which sold for a total of $170.5 million, according to HYPEBEAST.
Based on these figures, it’s estimated that Kanye West has already made $25.6 million.
As AfroTech previously told you, Kanye West scored another victory when Adidas was denied by Manhattan Federal Judge Valerie E. Caproni the ability to re-freeze $75 million held by the Yeezy brand.
“Yeezy is likely to comingle the funds with an unknown balance of funds in its possession at other financial institutions, such that it would be more difficult if not impracticable to audit those accounts and determine which monies are owned by Adidas,” Adidas lawyers wrote, per Billboard. “In addition, Ye (Kanye West) faces a clear risk of insolvency, giving rise to a risk of irreparable harm.”
The motion was upheld as the judge determined Adidas did not meet the legal criteria to receive a temporary restraining order against West to re-freeze the funds. In addition, it was said the retailer only provided “tabloid speculation” pertaining to Yeezy’s inability to pay off its debts.