Adidas stated on Friday that from the end of May, it would start selling a few pairs of shoes from its canceled collaboration with rapper Kanye West, better known as Yeezy.
The company also disclosed its intentions to donate a percentage of the earnings to organisations actively battling racism and antisemitism.
Adidas cut relations with the musician, also known as Ye, after a string of interviews and social media posts in which West made antisemitic remarks.
The German sportswear manufacturer had left with Yeezy shoes worth $1.3 billion (1.2 billion euros).
Also Read: Kanye West Partnership End: Adidas Net Income Falls Heavily In 2022
Adidas confirmed that a sizeable portion of the donation would go to organisations like the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, which was founded by George Floyd’s brother to fight systemic racism in the United States.
Adidas did not disclose the precise donation amount, but it did confirm that it would go to these organisations.
CEO Bjoern Gulden
CEO Bjoern Gulden stated:
“We believe this is the best solution as it respects the created designs and the produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities.”
He further added: “There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”
Adidas has started selling Yeezy goods
Adidas has started selling Yeezy goods directly to customers for the first time since ending its collaboration with Kanye West in October.
Since the Yeezy line played a large part in the company’s income, this choice resulted in multiple profit warnings.
Also Read: Kanye West No Longer ‘Billionaire’ As Adidas Ends Partnership
Since the collaboration came to an end, the value of Yeezy shoes has surged on the secondary market, with some versions more than doubling in price. It is still unknown if Adidas plans to control the resale market for these shoes.
Kanye West will reportedly earn the previously agreed-upon 15% fee from each sneaker sale. Adidas has opted to remain silent on this issue.
CEO Jonathan Greenblatt stated:
“At a time when antisemitism has reached historic levels in the US and is rising globally, we appreciate how Adidas turned a negative situation into a very positive outcome.”
