Adidas (Herzogenaurach, Germany) has announced it will begin selling some of the remaining inventory of adidas YEEZY products at the end of this month. That disclosure comes several months after the footwear and sporting apparel brand cut ties with Ye, the artist behind the Yeezy line, over antisemitic comments he made. (Ye is the artist formerly known as Kanye West.)
In the aftermath of that breakup, Adidas announced that the existing stock of Yeezy merchandise it still has on hand could cost it up to $1.3 billion in revenue and $534 million in operating profit. The retailer said the just-announced move to sell some of that merch will have no immediate impact on the company’s financial guidance for 2023.
The Yeezy products will be sold through exclusively through adidas.com/yeezy and the adidas CONFIRMED app. The company said a “significant amount” of the proceeds will be donated to select organizations working to combat discrimination and hate, including racism and antisemitism. These include but are not limited to the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change, which is run by the brother of George Floyd, who died at the hands of a Minneapolis policeman in 2020.
“After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products,” said Adidas CEO Bjørn Gulden. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. 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.”
Organizations interested in proposing projects aimed at combating discrimination and hate through sports can register their interest to changinglivesthroughsport@adidas.com.