Adidas revealed plans for remaining inventory from Yeezy — Kanye West’s sneaker line.
At an investors conference this month, Adidas CEO Bjørn Gulden announced that the clothing company plans to “sell parts of this (Yeezy) inventory and donate money to the organizations that are helping us and that was also hurt by Kanye’s statements,” reports CNN.
The German sneaker brand severed ties with West in October following a slew of antisemitic remarks. West’s blatant antisemitism tainted the Yeezy brand — leaving Adidas with $1.3 billion worth of undesirable products, per Forbes.
Since dropping West, Adidas has been “exploring multiple scenarios for the potential use of the existing Yeezy inventory,” read a statement from Adidas. The brand was left with limited options and considered everything from burning the sneakers to rebranding the shoes as “zombie Yeezys.”
The brand ultimately landed on selling the products, and donating a “significant amount” of profits to organizations that fight racism and antisemitism.
“After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products. Selling and donating was the preferred option among all organizations and stakeholders we spoke to,” Gulden said in a statement.
“We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities. There is no place in sport or society for hate of any kind and we remain committed to fighting against it,” Gulden continued.
Some of the organizations Adidas plans to donate to include: the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, according the the brand’s statement.
“At a time when antisemitism has reached historic levels in the U.S. and is rising globally, we appreciate how adidas turned a negative situation into a very positive outcome. They have shown real thoughtfulness in engaging with community organizations working to combat this pernicious and stubborn hatred,” said Jonathan A. Greenblatt, CEO of the Anti-Defamation League, per Adidas’ statement.
“We thank them for their ongoing dialogue around their remaining inventory and their vested interest in tackling issues of prejudice and hate,” added Greenblatt.
Yeezy products will be available at the end of May for the first time since Adidas severed ties with West in October 2022. Adidas did not reveal how its decision will financially impact the brand.
Splitting with West cost Adidas a significant amount of money. Since October, the brand has lost a reported $540 million and the Yeezy line accounted for roughly 15% of Adidas income, according to analysts, per NPR.