(Reuters) – Adidas has received orders worth more than 508 million euros (about $565 million) for the first batch of online sales of its unsold inventory of Yeezy shoes, the Financial Times reported on Monday.
Adidas got orders for 4 million pairs across May and June, more than it expected, and it was unable to meet the demand, the FT reported, citing people familiar with the matter.
The company said in May it would start selling some of the Yeezy shoes from its defunct partnership with Ye, the rapper formerly known as Kanye West, at the end of May and planned to donate some of the proceeds to organisations fighting antisemitism and racism. ($1 = 0.8992 euros)
(Reporting by Bharat Govind Gautam in Bengaluru; Editing by Savio D’Souza)
