Meanwhile, Adidas pledge to donate proceeds from Kanye West's Yeezy to charity
Adidas' sale of the some of the remaining $1.3 billion Yeezy proved to be a boon for Kanye West as the rapper is set to gain reportedly $143 million.
After months of to-and-fro, the shoemaker brand decided to ship the shoes out to offset the steep losses after ditching Ye over the antisemitic controversy last year.
From its sale, the proceeds will be donated "to selected organizations working to combat discrimination and hate, including racism and antisemitism."
In the meantime, the polarising rap star will receive over $140
million from the sales as West owed an 11 percent piece of each Yeezy
product sold, DigitalMusicNews reports.
Moreover, the company's
CEO Bjørn Gulden said royalties would be given to the rapper whenever the
sneakers were sold.
In other news, Nike raised red flags about
West with Adidas; however, the latter ignored the warnings and continued the
partnership with the controversial rapper.
The shocking
revelation was unearthed by a report in Bloomberg as the polarising rap star
collaborated with Nike on his Air Yeezy, which was launched in 2009.
But, ultimately, Ye had a fallout with the brand.
At
the time, the fashion mogul claimed the multi-billion company denied
royalties to him because he was not a professional athlete.
However,
the four years collaboration was a success for Nike as the last Ye-partnered
sneakers worth $245 was reportedly sold in eleven minutes in 2014.
Meanwhile,
Adidas roped in West in 2013 for a partnership, and their first sneaker hit
the shelves in 2015.
