Yeezy

Yeezy Sneakers Stock Nets Adidas $437 Million

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First Adidas and YEEZY Restock Under New Agreement Set for June 1

Adidas reports a revenue of $437 million in the first release of leftover Yeezy sneakers from their nixed deal with Ye, formerly known as Kanye West. The first run of shoes hit online in June, selling out. The second run began to sell on Wednesday.

The sale of the sneakers was the efforts to empty their inventory responsibly. After the first launch, CEO Bjørn Gulden said, “We will continue to carefully sell off more of the existing Yeezy inventory,”

Adidas has also announced the donation of over 10 million euros to groups like the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change, and Robert Kraft’s Foundation to Combat Antisemitism.

According to Billboard, 20% to 25% of the stock was unloaded in the first sale.

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Adidas Brought In Nearly Half-A-Billion Dollars Selling The First Batch Of Post-Kanye Yeezys

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Kanye West Adidas Yeezy 2016
Getty Image

With Kanye West no longer a part of Adidas’ corporate strategy, the company was left in the awkward position of sitting on a massive supply of unsold Yeezy product and no great options for getting rid of it. Obviously, selling off the back stock would put more royalties in the hands of West just after public sentiment had turned against him (with no guarantee the product would move after it hit shelves), but destroying the kicks would be a huge financial blow. Ultimately, Adidas decided to go with option A, and according to Rolling Stone, it seems like the choice paid off, to the tune of nearly half-a-billion bucks.

In late May, Adidas unvaulted about a quarter of its remaining Yeezy merchandise, and since then, brought in about $437 million. A portion of that profit will be donated to two charities: the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change to offset the harm Kanye’s 2022 media tour caused.

The Philonise & Keeta Floyd Institute is a nonprofit established by the brother of George Floyd; during an interview with Drink Champs, Kanye parroted a racist right-wing conspiracy theory that Floyd died from a fentanyl overdose rather than being suffocated by a police officer in put his knee on Floyd’s neck, despite his protests that he couldn’t breathe. Meanwhile, the Anti-Defamation League is a well-known civil rights organization working to reduce antisemitic harm — which Ye did plenty of over the past year.

Adidas CEO Bjørn Gulden said this option is “much better than destroying and writing off the inventory and allows us to make substantial donations.” The company did not say how much it donated, only that the amount had been discussed with recipients beforehand, and cited its “contractual obligations” with regard to whether Kanye will receive royalties (he will).

Adidas’ First Yeezy Restock Led To Astronomical Sales

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Adidas found itself in a bit of a jam a few months ago thanks to the likes of Kanye West. The famous artist decided to go on a pretty wild tirade against Jewish people. Overall, some felt it was just a ploy to get out of his business deals. However, once he started hanging out with Nick Fuentes and going on Info Wars, it became clear that he had lost it. Consequently, the three stripes brand cut ties with Ye, and immediately tried to move on. Unfortunately, that proved to be almost impossible.

The brand quickly realized that it had over $1 billion worth of Yeezy inventory in its warehouses. With profits suffering, Adidas decided to cut a deal with Kanye to sell off the rest of the inventory, once and for all. Once the stock gets sold, Ye and Adidas are done for good. Well, a new restock is happening this week, and many are expressing curiosity over how well the first one went. According to reporting from Rolling Stone, it is a move that definitely worked out in Adidas’ favor.

Read More: Kanye West And Adidas Are Still Battling In Court

Adidas Gets Some Money Back

LOS ANGELES, CA – FEBRUARY 17: Kanye West onstage at adidas Creates 747 Warehouse St. – an event in basketball culture on February 17, 2018 in Los Angeles, California. (Photo by Neilson Barnard/Getty Images for adidas)

As the publication reports, Adidas was able to sell $437 million worth of Yeezys. However, not all of this is going to Adidas directly. Some of this money has to go to Kanye. Moreover, the brand has pledged funds to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change. They are doing this as a way to make up for some of the harm that was done by Ye’s disastrous press run.

With another restock upon us, there is no doubt that the brand will recoup a whole lot more cash. Let us know if you will be copping anything, in the comments section below. Additionally, stay tuned to HNHH for the latest news from around the sneaker world.

Read More: Kanye West: Twitter, Married, Adidas, Albums, Height, Shoes And More

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Kanye West Asks Judge To Throw Out $2m Gap Lawsuit

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Kanye West is trying to legally escape responsibility for a $2 million suit made against him and Gap. The lawsuit originates from damages that Ye reportedly caused to a building owned by commercial company Art City Center. The space was used by West for his Yeezy clothing line, which was partnered with Gap, from April 2021 until March 2022. According to HipHopDX, the agreement they signed said that no changed could be made to the building without prior approval.

Reportedly, “numerous, significant, unapproved modifications” were made to the building during the course of the rental. Kanye West doesn’t seem to deny making the changes. He specifically cites what he sees as improvements made to the building like an ADA ramp. West claims no wrongdoing and insists that Gap should pay his legal feeds. Gap on the other hand cite a provision in their contract stating that they weren’t responsible for any of West’s actions.

LOS ANGELES, CA – MAY 13: Kanye West and Bianca Censori are seen on May 13, 2023 in Los Angeles, California. (Photo by Rachpoot/Bauer-Griffin/GC Images)

If this story sounds like deja vu to some, it might be because Kanye West just demanded another case be dismissed. Teachers from the rapper’s Donda Academy are suing him for various reasons related to their wrongful termination. Just a few days ago west called the claims in that lawsuit false as well and demanded the case be dismissed. It’s the most recent of West’s many ongoing legal dramas many of which started with antisemitic comments he made last year.

Fans were also paying attention to Kanye West’s ex-wife Kim Kardashian. At the Louis Vuitton fashion show on Tuesday, she was recorded dancing to Jay-Z performing “N*ggas In Paris.” Fans were quick to notice that the song features Kanye West as well. That fact certainly didn’t stop Kim from dancing. Many of Kanye’s former friends and affiliates were at the show including Jay-Z, Beyonce, Tyler, The Creator, Offset, and Pharrell. What do you think of Kanye West’s newest legal drama? Let us know in the comment section below.

Read More: Pharrell Defends Kanye West’s Title As “Louis Vuitton Don”

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Kanye West Reportedly Going To Craigslist For Yeezy Interns

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Kanye West and his Yeezy brand are in an interesting spot right now. Overall, he isn’t exactly producing any new shoes. Although he just had a restock with Adidas, that is going to be all for now. At this juncture, he is all on his own and has to figure out how to distribute sneakers and clothes on his own, there is going to be a tough road ahead for him, however, he seems to have a plan all figured out.

According to reports from The US Sun and Radar Online, Ye has hired Doc Charney from America Apparel to run his brand. Moreover, they have fired numerous staffers as they want to cut costs. Subsequently, they have taken to Craigslist where they are hiring interns for the reduced cost of $16 per hour. Overall, this alleged information comes from sources who claim to be close to the situation.

Read More: Adidas To Donate Yeezy Proceeds To ADL & George Floyd Foundation

Kanye West Revamps Yeezy

NEW YORK, NEW YORK – SEPTEMBER 23: Designer and music artist Kanye West performs during Playboi Carti’s set during 2022 Rolling Loud New York at Citi Field on September 23, 2022 in New York City. (Photo by Arturo Holmes/Getty Images)

“Although Kanye is determined to bounce back with Yeezy, and work is going on at his new HQ on Melrose, he’s already been cutting costs,” a source the US Sun. “It’s no secret he’s been bad with money in the past, and some people who have been working for him have been let go in recent weeks, or told he can’t afford them at the moment. […] Despite this, he has been advertising for interns to work for him on Craigslist and social media for $16 per hour. He wants them doing everything from pattern making and sample sewing to photo editing and social media.”

At this point, it remains to be seen if Yeezy can persist this way. Running a sneaker brand is not easy, and Ye knows that. However, it will be interesting to see what he comes up with. Fans are looking for something fresh and new, and there is no telling if his interns can provide that. Let us know what you think of this new plan, in the comments section below.

Read More: Kanye West’s Wife Bianca Censori Poses Almost Nude For Yeezy

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Ye Continues to Wear Shoulder Pads, Bianca Censor Seen in Ringed Sheer Fit as Couple Enjoys Day in LA

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Ye Continues to Wear Shoulder Pads, Bianca Censor Seen in Ringed Sheer Fit as Couple Enjoys Day in LA

Kanye West and his wife Bianca Censori definitely put on a fashion show when they leave the house. For better or for worse. Ye was back in his should pads and socks, more on that later. But Censori was in a fit made like a body stocking covering her from head to toe.

Adding on to the interesting choice of attire, Censori had pads of her own, circling her shoulders and kind of creating a force field, or a tire, even. She finished the fit with a pair of heeled boots.

Back to Ye, The Polizei t-shirt and the sock shoes were back. The two strolled through Los Angeles in the fit, once stopping for Ye to help out his wife.

Late last month, Ye was spotted out this week on an ice cream date with his wife, Bianca Censori. The trending news is less about the outing and more about his attire, as Ye was spotted in a t-shirt with extreme shoulder pads and his forthcoming sock shoes.

On the back of the shoulder shirt was the word “Polizei,” which Page Six notes is German for “police.” The fit was completed in cropped Black pants and blue sock shoes. Censori strolled with Ye in silver tights, a nude tank and gold boot socks.

READ MORE: Kim Kardashian Says Kanye’s Shenanigans Are More Damaging To Their Kids Than Her Sextape

Shoulder Ye even gave a smile to the cameras.

READ MORE: Share of Profits From Adidas and Yeezy Sales To Go to Anti-Defamation League

Ye is back in his creative bag, recently filing legal documents for the trademark of YEEZY SOCK SHOES. According to Hypebeast, Ye submitted the new design to the United States Patent and Trademark Office on May 4.

The application was filed by Ye’s Mascottee Holdings, Inc., stating the YZY SOCK SHOES will sell “Socks; socks with leather soles.”

Fans saw the YEEZY SOCK SHOES following his YEEZY SEASON 10 show in L.A.

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Kanye West Court Battle May Continue As Adidas Starts Selling Yeezys Again

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Kanye West may have the last laugh in the battle against Adidas, after all. Yesterday, Kanye won against the brand in court. The rapper has been engaged in a legal battle with Adidas for the past six months. The conflict began when Kanye publicly expressed his desire to end his deal with them. However, Adidas, recognizing Kanye’s significant financial value, was reluctant to let him go. Kanye then resorted to making anti-Semitic remarks, which ultimately forced Adidas to sever ties with him due to the financial implications. Obviously, in this day and age, it is not advisable for a company to associate with someone that makes the kinds of remarks that Kanye made.

Recently, it was confirmed that Adidas had frozen Kanye’s assets, including $75 million across his Yeezy bank accounts. Kanye fought to regain control of his assets. Yesterday, he scored a temporary win when a judge denied Adidas’ request for an emergency re-freeze. Adidas will now seek a normal asset freeze in the coming days, but it remains uncertain whether they will be successful in their efforts. Now, the company plans to begin selling off its backstock of Yeezys. There is, however, one caveat. They will be donating a portion of the proceeds to fight against antisemitism.

Adidas Uses Kanye To Fight Antisemitism

Kanye West aka Ye is seen on October 28, 2022 in Los Angeles, California (Photo by MEGA/GC Images)

Adidas has announced a plan to sell the remaining inventory of Kanye West’s Yeezy sneakers. They will donate a portion of the proceeds to organizations working against discrimination, hate, racism, and antisemitism. The company’s CEO, Bjorn Gulden, stated that selling and donating the inventory was the preferred option among stakeholders. The benefiting organizations include the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change. Adidas is also considering additional releases of existing inventory.

Today, the plan went into action on Adidas’ official site, where they advertised the sale of “some of the remaining inventory.” They also highlighted the donation aspect. The products available include both existing designs and designs initiated in 2022 for sale in 2023. The announcement has no immediate impact on Adidas’ financial guidance for 2023. What do you think about the battle between Kanye and Adidas? Who do you think will have the last laugh in the end? Sound off in the comments below!

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Adidas Is Back To Selling Kanye West’s Yeezy Shoes Months After They Ended Their Partnership With Him

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Kanye West Adidas Yeezy 2016
Getty Image

Last October, Adidas ended its partnership with Kanye West, who legally changed his name to Ye, in response to several anti-Semitic comments he’d made. CNBC reported in February — and the likes of the Associated Press and Rolling Stone reported again at the beginning of May — that the abruptly severed relationship left Adidas with $1.3 billion in unsold Yeezy product. On May 11, Adidas CEO Bjorn Gulden revealed the company’s plan to salvage what can be salvaged.

“What we are trying to do now over time is sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements,” Gulden told investors, as relayed by Complex at the time.

That plan came to fruition today, May 31. Adidas’ official website is headlined by Yeezy, advertising that “some of the remaining inventory” of his products are available on the brand’s app, Confirmed, and promising that a “portion from the sale of these items will be donated in support of the fight against discrimination, hate, racism, and antisemitism.”

An accompanying press release details that the benefiting organizations include the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.

“The release will mark the first time that products have been available to consumers since adidas terminated the Yeezy partnership in October 2022,” the press release explains. “The products will be existing designs and designs initiated in 2022 for sale in 2023. Additional releases of existing inventory are currently under consideration, but timing is yet to be determined. Today’s announcement has no immediate impact on the company’s current financial guidance for 2023.”

“After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products,” Gulden said in a statement. “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. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”

The May 31 Yeezy drop comes one day after Billboard reported that Adidas’ request for an emergency order re-freezing of the $75 million held by Yeezy was denied by a federal judge.

Shoulders Above the Rest: Ye’s Shoulder Pads and Sock Shoes Standout During Date with Bianca Censori

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Ye's Shoulder Pads and Sock Shoes Standout During Date

Ye was spotted out this week on an ice cream date with his wife, Bianca Censori. The trending news is less about the outing and more about his attire, as Ye was spotted in a t-shirt with extreme shoulder pads and his forthcoming sock shoes.

On the back of the shoulder shirt was the word “Polizei,” which Page Six notes is German for “police.” The fit was completed in cropped Black pants and blue sock shoes. Censori strolled with Ye in silver tights, a nude tank and gold boot socks.

READ MORE: Kim Kardashian Says Kanye’s Shenanigans Are More Damaging To Their Kids Than Her Sextape

Shoulder Ye even gave a smile to the cameras.

READ MORE: Share of Profits From Adidas and Yeezy Sales To Go to Anti-Defamation League

Ye is back in his creative bag, recently filing legal documents for the trademark of YEEZY SOCK SHOES. According to Hypebeast, Ye submitted the new design to the United States Patent and Trademark Office on May 4.

The application was filed by Ye’s Mascottee Holdings, Inc., stating the YZY SOCK SHOES will sell “Socks; socks with leather soles.”

Fans saw the YEEZY SOCK SHOES following his YEEZY SEASON 10 show in L.A.

Ye’s is getting back in his design bag, revealing a new look, which is quite revealing.

Yeezy’s wife, Bianca Censori, highlights new designs, which aren’t too much in the material. Censori wears a black square over her breasts, and it appears Ye’s faith is in the design as a cross covers Censori’s butt crack. Finishing off the look is thigh-high kitten heels.

TMZ notes the designer of the modeled fit is Mowalola Ogunlesi.

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Adidas Yeezy Foam Runner “MX Cinder” Revealed

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One of the wildest shoes to come out of the Kanye West and Adidas partnership is the Adidas Yeezy Foam Runner. Overall, this is a very skeletal shoe that was made with comfort and leisure in mind. However, it has ultimately become a huge hit, against all odds. One would assume that people would hate these. Although, people have since spoken in favor of this silhouette. It just goes to show that when it comes to Kanye, he can do anything and people will rush to defend it.

While the Adidas Yeezy partnership has ended, some Adidas Yeezy Foam Runner models are still to be released. That is because Adidas has decided to sell off the $500 million worth of Yeezy sneakers they have in their warehouse. Proceeds from this sell-off will go to anti-racism organizations. Moreover, 15 percent will go to Kanye West as part of his royalty deal. This new sell-off is set to happen very soon, and now, we are seeing some of the models that are rumored to be released. For instance, you can find the “MX Cinder” Adidas Yeezy Foam Runner down below.

Read More: Adidas Yeezy 350 “Pirate Black” Coming Soon: Details

“MX Cinder” Adidas Yeezy Foam Runner

Overall, this is a cool and unique offering. Most Foam Runners are just one color. However, this model delivers a base color and some paint strokes. The base here is a mixture of black and charcoal grey. Subsequently, we get multiple shades of brown at the back, while the front has some blue elements. It is a colorway that doesn’t have much rhyme or reason, although we think fans prefer it that way.

For now, it does seem like the Adidas restock will be happening as of May 31st. However, many of the shoes will supposedly be spread out over a few days. Consequently, there is no official date for when this Adidas Yeezy Foam Runner will be released. Let us know what you think of this sneaker, in the comments section below. Additionally, stay tuned to HNHH for the latest news and updates from around the sneaker world. We will be sure to bring you the biggest releases from the biggest brands.

Read More: Adidas Yeezy Restock Date Allegedly Leaks Online