Kanye West gives Kim Kardashian some Adidas stock: here’s why
Kanye West gifted his wife, Kim Kardashian West, hundreds of thousands of dollars in Christmas stock this year, including 995 Adidas stock, which makes up Kanye’s Yeezy shoe line.
So while the inclusion of Adidas shares may have been a bit of self-promotion, it could also turn out to be a wise financial move. As apparel competitors like Nike and Under Armor struggle to grow sales in North America at a sustained pace, Adidas has taken the lead, reporting a 31% year-over-year sales increase in November. .
Adidas attributes its strong performance to the focus on customer demand. As Nike and Under Armor continue to focus on the basketball shoes that have defined their heritage, Adidas has noticed an increase in demand for smaller, more flexible running shoes and changed its strategy to meet that demand. .
The company has also tried to win over consumers by increasing investment in e-commerce, including a new smartphone app launched in November that can be personalized for each user.
Adidas is hoping that by using customer demand to guide production decisions, it can increase brand loyalty, which could make Kim’s Christmas present the one that keeps on giving. His Adidas shares are said to be worth around $ 100,000 at the current price.
She shared a video of the giveaway, which also included Amazon, Apple, Disney and
, in an Instagram story.