German sportswear giant Adidas has fulfilled its promise made in the wake of controversy surrounding Kanye West’s anti-Semitic remarks, revealing that it has donated more than $150 million from the sales of the rapper’s Yeezy shoe line to organizations dedicated to combating anti-Semitic hate.
In its recently published financial results, Adidas disclosed extraordinary expenses totaling more than €340 million ($370 million), which included donations exceeding €140 million ($152 million). These funds have been directed to groups such as the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.
Kanye West draws condemnation for anti-Semitic remarks in ‘Vultures 1’
West, whose partnership with Adidas ended in October 2022 following his anti-Semitic comments, faced renewed scrutiny after the release of his song “Vultures” from his latest album “Vultures 1.”
In the song, West addressed the backlash with a controversial lyric, drawing condemnation from organizations such as the Anti-Defamation League and the American Jewish Committee.
Reacting to West’s explicit statement regarding a personal encounter with a Jewish woman, the Anti-Defamation League described it as “particularly pathetic and sad,” echoing sentiments shared by other advocacy groups.
Adidas-Yeezy split: Unraveling the financial fallout for both brands
The termination of the collaboration between Adidas and West had financial repercussions for both parties. Adidas reported a net loss of €58 million ($63.1 million) in 2023, its first since 1992, attributing a portion of this loss to the discontinuation of the Yeezy business. Conversely, West’s fortune plummeted from $2 billion to $400 million following the split.
Despite the challenges, Adidas CEO Bjørn Gulden expressed cautious optimism about the company’s performance, noting that despite losing significant revenue from the Yeezy line, they achieved flat revenues and an operating profit of €268 million ($292 million) in 2023.
Kanye West’s global influence: $19.3-million evenue from YEEZY SPLY line
Since parting ways with Adidas, West’s brand has thrived independently. The rapper’s recent album release was accompanied by a series of highly lucrative listening parties, generating over $12 million in ticket sales.
The U.S. events in Chicago and New York, as well as subsequent European shows, showcased West’s enduring popularity and entrepreneurial acumen.
In a remarkable display of his continued influence, West achieved a staggering single-day revenue of $19.3 million from sales of his YEEZY SPLY line, following a prominent Super Bowl advertising campaign.
