Adidas bought €400m (£345m) price of Kanye West-designed footwear from April to the top of June this yr – as a lot as the identical time final yr, regardless of severing ties with the rapper.

The German sports activities large took a hit when it ended its association with West final yr following a string of antisemitic feedback from the performer, now referred to as Ye, on social media, TV and radio.

A mountain of unsold Yeezy model trainers had been left after the partnership ended.

But Adidas on Thursday introduced its recouping losses, having decided to sell the stock beforehand made at the side of the musician.

The sale of the Yeezys added about €150m (£129.4m) to firm working revenue within the second quarter of this yr.

At the identical time, Adidas mentioned there was nonetheless a monetary affect within the yr general.

There had been no Yeezy revenues within the first three months of 2023 whereas in the identical interval a yr earlier than, about €400m (£345m) price had been bought.

Read extra:
Adidas withdraws opposition to Black Lives Matter three stripe design
Kanye West is ‘dangerous’ and ‘perpetuating violence’, David Baddiel says

In the primary half of this yr, income from the trainers was €400m (£345m), in contrast with €800m (£690m) within the first six months of final yr.

Adidas is predicted to interrupt even, fairly than revenue for the entire of 2023, with the potential write off value of the Yeezys coming in at €400m (£345m), lower than the €500m (£430m) beforehand anticipated.

Some proceeds from the Yeezy gross sales will probably be given to charity, Adidas mentioned, however didn’t element the worth of charitable contributions.

Around €180m will probably be spent on one-off prices associated to the strategic assessment introduced by Adidas and “donations and accruals for further donations”.

Organisations such because the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change and Robert Kraft’s Foundation to Combat Antisemitism had been named by Adidas as beneficiaries.

“We will continue to carefully sell off more of the existing Yeezy inventory. This is much better than destroying and writing off the inventory and allows us to make substantial donations to organisations,” Adidas chief govt Bjørn Gulden mentioned.