Kanye West, a musical luminary, can draw massive crowds with a mere 15 seconds on stage. However, his wealth does not stem primarily from his music but rather from his Yeezy venture, initiated with Nike in 2009 and later adopted by Adidas in 2013. Kanye West’s love for sneakers and commitment to innovation has only deepened over the years. However, the narrative took a turbulent turn when the firm severed its ties with Kanye West following a series of antisemitic comments on social media. 

Despite the fallout, the demand for Yeezy sneakers remained strong, maintaining its position as the most sought-after item in the resale market. After hitting big in the 2024 sales, how much can Kanye West bank from the booming profits? 

Kanye West’s take-home from the profits 

Adidas just shared that it aims to clear out the remaining Yeezy sneakers from its old deal with Kanye West, selling them at least for what it cost to make them. The company took a hit last year when the Yeezy business ended, and they had to slash prices to move unsold products. Despite some tough times, Adidas still made about $290 million in profit in 2023 and thinks it will almost double that this year. In this profit, Kanye West is set to pocket around 40-41M with his 15% cut from the company’s profit.

The company’s CEO, Bjørn Gulden, credited the uptick in performance to a stronger operating business, contributing over $126 million. Additionally, a key factor in the positive shift was the decision not to write off $271 million for Yeezy inventory. Mr. Gulden, who joined from rival sportswear firm Puma at the beginning of 2023, was tasked with spearheading Adidas’ turnaround following the split with Ye. However, he has always been very supportive of the ‘Donda’ rapper, despite the controversies. 

Bjørn Gulden once publicly stood up for Ye, which sparked outrage among fans who expressed their displeasure on social media. 

Adidas CEO defended Kanye West for his offensive remarks

Last September, Adidas CEO Bjorn Gulden came to the defense of Kanye West. He expressed his belief that the celebrity did not harbor antisemitic intentions behind remarks that led to the termination of his lucrative Yeezy collaboration with the German sportswear giant. Addressing the fallout, which resulted in tens of millions in lost sales for Adidas, Mr. Gulden shared on the In Good Company podcast that Ye had made some statements that were not “that good.” Gulden, however, did not “think he (Ye) meant what he said”. 

The CEO also referred to Kanye West as “one of the most creative people in the world“, both in terms of music and street culture. However, this endorsement sparked a backlash from fans, who vented their frustration on social media. There has been a definite shift in fans’ feelings since then, with apparent celebrations over the success of Kanye West’s Yeezy sales.  

What do you think about the estimated cash Kanye West could scoop from Yeezy’s success? Let us know your thoughts in the comments below!