Adidas said it received orders worth more than US$565mln for four million pairs of rapper Kanye West’s Yeezy shoes.
According to a report in the Financial Times, the German sportswear giant is now “more optimistic” about the future as orders for the first batch could save it from having to take a big write down on the stock.
Yeezy clothing and shoes were designed by West although that relationship came to an end in October after the rapper made a series of antisemitic comments.
Adidas said the termination of the partnership cost it around US$440mln in the first quarter.
However, demand for the unsold trainers has eased concerns that West’s antisemitic comments made the Yeezy brand too toxic.
Back in May, the company said it would donate some of the proceeds from the sales towards organisations that fight antisemitism and racism.
Discussions, the FT said, are currently ongoing with regard to how much will be donated to each of the five individual charities chosen.