Kanye West Yeezy Boost Adidas Revenue by a Whopping $160 Million, Leaving Fans in Awe of the Infamous Rapper’s Genius
Kanye West is one of the world’s best-selling music artists with the highest-certified digital singles in the States. However, his music is only one piece of the puzzle in filling up his bank account. What truly got his wallet looking fat was his Yeezy venture, which he started with Nike in 2009 and brought to Adidas in 2013. His obsession with sneakers and his knack for pushing the envelope with unique designs made Yeezy an astronomical success.
It has been a year since the German athletic footwear company, Adidas, ended its partnership with Ye. However, the rapper still holds a hefty 15% royalty for his brainchild. Recently, the sportswear giant released its revenue report, as per which, the company generated nearly $160 million after selling the latest batch of Yeezy shoes. Adidas has been selling the remaining stock of Kanye West’s Yeezys since the end of May, saving the company against a substantial financial blow.
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The report also provided a breakdown of the profits, which included 1% profits in currency-neutral terms and an overall improvement of 0.2% in the gross margin. The company said, as per the New York Post, that it can foresee an underlying operating profit of 100 million euros in the near future. The sportswear giant, which was expecting a loss of 700 million euros in March, went on to generate a profit of 150 million euros.
This growth in sales owes itself to Kanye West’s creativity with the sneaker line. As soon as the news surfaced, fans have not been able to stop gushing over the artist’s genius.
Netizens appreciate Kanye West for his creative genius
Kanye West’s obsession with sneakers is almost as intense as his love for making music. From starting his shoe creation journey with a Japanese brand, A Bathing Ape, in 2007, to crafting one of the most influential sneaker lines of all time, Ye has come a long way. What made his brand truly stand out was its signature chunky bottom and the ultra-soft interior padding. The reaction from fans on X, formerly Twitter, speaks volumes about their love for Yeezy.
Despite not being a musical debate, fans talked about Kanye West’s rival, Drake, who dissed Yeezy at the Milwaukee Concert in August. They compared Yeezy to Drake’s Nike sub-brand, NOCTA.
Many users even made appeals to bring back Kanye West to Adidas. Additionally, some fans shed light on the fact that there are many fake Yeezy’s in the market.
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While Ye may not be returning to Adidas for his collaboration, fans are eagerly anticipating a new sneaker line release from the ‘Donda’ rapper!
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What do you think about the massive Yeezy sales? Let us know your thoughts in the comments below!
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