Unsold Yeezy Merchandise Is A Payday For Ye To The Tune Of Over $25 Million
So much for Ye being canceled.
According to a report by Hypebeast, Ye, the artist formerly known as Kanye West, has reportedly pocketed over $25 million based on first-day numbers of the Yeezy restock sale. The media outlet said there were 682,300 pairs of YEEZYs available for purchase. The total sum sold was reportedly $170.5 million. According to an Instagram post, With a 15% royalty on the products sold, he may have taken home $25,586,250.
It was previously reported that Adidas decided to release Yeezy products after initially severing ties with the controversial music producer in October 2022. The sneaker company made the items available for purchase on its website. A portion of the sales from Yeezy’s will go toward fighting discrimination, hate, racism, and antisemitism.
The organizations expected to benefit from the sale of Yeezy’s include but are not limited to the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change.
The current items that Adidas is selling are existing designs and designs that were supposed to go on sale in 2023 before the relationship ended. Although releases of existing inventory are presently under consideration, there has been no determination if they will go on sale.
Mint also reported that Adidas ended its federal case against Ye. After initially deciding to keep Ye from the funds, the court reversed a decision to freeze Ye’s account, which held $75 million. The Chicago rapper should have access to those funds now.
In 2022, after Ye appeared on the since-deleted Drink Champs podcast on Revolt, he dared the apparel company to act when he said, “I can say antisemitic things, and Adidas can’t drop me. Now what?”
They called his bluff shortly after those statements were made on the podcast and decided to part ways professionally.