- Adidas to Sell Yeezy Trainers Again, Donating Portion of Proceeds to Charity
- Ending Collaboration with Kanye West Due to Antisemitic Remarks
- Financial Impact of Unfilled Trainers and Charity Donations
Late last year, the sports brand ended its fashion collaboration with rapper Ye, formerly known as Kanye West, due to his antisemitic remarks.
Adidas will sell another batch of its Yeezy trainers, donating a portion of the proceeds to charity, but has remained mute on the exact amount.
In December of last year, the German sports brand severed ties with rapper Ye, formerly Kanye West, due to his antisemitic remarks.
Adidas was left with €1.2 billion (£1.02 billion) worth of unfilled trainers, resulting in the company’s first annual loss in more than three decades.
Bjorn Gulden, the CEO of Adidas, stated that burning the products “would not be a solution” when asked about the company’s efforts to get rid of the stock.
Instead, the sportswear firm sold a pair of the shoes in May to donate a portion of the proceeds to charity and will do so again on Wednesday when its online sale begins.
However, Adidas did not specify how much of the proceeds would be donated or how many pairs of shoes would be sold.
Mr. Gulden stated that Adidas had communicated with a few US-based organizations that will receive a portion of the funds, including the Anti-Defamation League, a Jewish anti-antisemitism organization.
The brother of assassinated American George Floyd ran the Philonese and Keeta Floyd Institute for Social Change.
The business also declared that North American footwear would use blue square fasteners to reject antisemitism.
When queried if Ye would receive royalties from the sales, the company stated that it would uphold its “contractual obligations and enforce [its] rights” without providing additional information.
Its first Yeezy sale resulted in a loss of €450m (£385m) this year, as opposed to €700m (£600m) last year.
Adidas stated that its forthcoming sale, which will include premium brands such as the Yeezy Boost 350 V2 and the Foam RNR, is anticipated to further boost its financial performance.
