The first batch of shoes sold in June helped the company reach an operating profit of 176 million euros in the second quarter.
Adidas has already handed over 10 million euros to the groups and expected to give an additional 100 million euros, with further donations possible depending on how future sales go, Chief Financial Officer Harm Ohlmeyer said.
The Adidas CEO said the Yeezy sales are “of course also helping both our cash flow and general financial strength.” Adidas also warned that the first sale included the highest-priced shoes and sold out completely but that it wasn’t clear whether the remaining releases would see similar price levels and demand.
The torn-up contract was now in arbitration, “a process that is being taken care of by legal people” for both sides and was surrounded “by a lot of uncertainty,” said Gulden, the Adidas CEO.Article content
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