<p>Adidas got orders worth more than €508 million (about $565 million) for 4 million pairs of unsold Yeezy shoes, better than the company's "most optimistic forecast," the <em>Financial Times </em>reported on Monday.</p>.<p>Strong demand for the first batch of online sales would potentially save the German sportswear company from having to take a big writedown on its remaining stock, the newspaper said.</p>.<p>Adidas stopped selling Yeezy shoes from its defunct partnership with Ye in October after the rapper formerly known as Kanye West made a series of antisemitic comments.</p>.<p>Losing the highly profitable line hit first quarter sales at the company by around $440 million.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/business-news/reliance-retail-revamping-trends-stores-with-new-age-tech-enabled-features-1239852.html">Reliance Retail revamping Trends stores with new-age, tech-enabled features</a></strong></p>.<p>However, robust demand for the unsold sneakers has quelled fears at Adidas' headquarters that Ye's outbursts and a drop in marketing in the recent past would have made the Yeezy brand too toxic, <em>FT</em> said, citing sources.</p>.<p>Adidas declined to comment saying it was in a "quiet period" ahead of its quarterly results due Aug. 3.</p>.<p>The company had said in May it would donate some of the proceeds from the sales to organisations fighting antisemitism and racism.</p>.<p>Discussions over how much will be donated to individual charities are ongoing, the <em>FT</em> reported, adding that the company has chosen five charities in the US and China as a first step.</p>.<p>"Making donations of more than €8.5 million across the five charities has been discussed but no decision has been made," <em>FT</em> said, citing people familiar with the matter.</p>.<p>The final amount donated from the sales will be much larger as the company is willing to pay a significant share of the profits from the Yeezy inventory, the report said.</p>.<p>Adidas had forecast a loss this year before announcing its intentions to sell leftover Yeezy stocks. </p>
<p>Adidas got orders worth more than €508 million (about $565 million) for 4 million pairs of unsold Yeezy shoes, better than the company's "most optimistic forecast," the <em>Financial Times </em>reported on Monday.</p>.<p>Strong demand for the first batch of online sales would potentially save the German sportswear company from having to take a big writedown on its remaining stock, the newspaper said.</p>.<p>Adidas stopped selling Yeezy shoes from its defunct partnership with Ye in October after the rapper formerly known as Kanye West made a series of antisemitic comments.</p>.<p>Losing the highly profitable line hit first quarter sales at the company by around $440 million.</p>.<p><strong>Also Read: <a href="https://www.deccanherald.com/business/business-news/reliance-retail-revamping-trends-stores-with-new-age-tech-enabled-features-1239852.html">Reliance Retail revamping Trends stores with new-age, tech-enabled features</a></strong></p>.<p>However, robust demand for the unsold sneakers has quelled fears at Adidas' headquarters that Ye's outbursts and a drop in marketing in the recent past would have made the Yeezy brand too toxic, <em>FT</em> said, citing sources.</p>.<p>Adidas declined to comment saying it was in a "quiet period" ahead of its quarterly results due Aug. 3.</p>.<p>The company had said in May it would donate some of the proceeds from the sales to organisations fighting antisemitism and racism.</p>.<p>Discussions over how much will be donated to individual charities are ongoing, the <em>FT</em> reported, adding that the company has chosen five charities in the US and China as a first step.</p>.<p>"Making donations of more than €8.5 million across the five charities has been discussed but no decision has been made," <em>FT</em> said, citing people familiar with the matter.</p>.<p>The final amount donated from the sales will be much larger as the company is willing to pay a significant share of the profits from the Yeezy inventory, the report said.</p>.<p>Adidas had forecast a loss this year before announcing its intentions to sell leftover Yeezy stocks. </p>