Kanye West's Adidas Yeezy Brand Sees Sales Slowdown
Yohance Kyles (@HUEYmixwitRILEY)
(AllHipHop News) Kanye West was seemingly able to right the ship when it comes to the commercial success of his music. After 2018's Ye album experienced a significant chart drop, 2019's Jesus Is King is expected to remain in the Top 3 in its second week of release.
While West is still garnering attention from his Gospel-inspired tunes, it appears another area of his empire is in a slightly weaker state. According to Reuters, sales of the Adidas Yeezy are down from last year.
The German corporation's third-quarter earnings report showed footwear sales increased by only 1% as a result of lower Yeezy sales. The downturn is being connected to the lack of a major launch from the brand.
However, the e-commerce sales for West's signature apparel dropped from 37% to 14%. Adidas CEO Kasper Rørsted claimed the company limited supplies of Yeezy products to maintain the exclusivity of the merchandise. Last year, Rørsted stated that the Yeezy line was "not a major source of revenue for the company."
As far as his personal finances, Kanye West appears to be doing better than ever. Forbes magazine placed the G.O.O.D. Music founder at #1 on its 2019 list of "Highest-Paid Hip Hop Acts" with a June 2018 to June 2019 haul of $150 million.