It seems Adidas have taken a slight U-turn as the sportswear giants confirm they’re resuming their partnership with a previously boycotted Kanye West (Ye) in an effort to finally move their $1.3 billion USD worth of Yeezy products.
Adidas have been sitting on an excessive amount of Yeezy inventory since the global athleisure brand cut ties with Ye in October 2022 following his controversial antisemitic remarks.
In an effort to settle the company’s profit loss and to avoid a sustainability situation, Adidas have confirmed they’ll be selling its remaining Yeezy trainers and will be donating a portion of its proceeds to charitable organisation that where offended be Ye’s infamous remarks.
The main man behind the defunct Adidas Yeezy line, Ye will be entitled to 15% of the sales which was previously agreed upon in his contract with Adidas.
Adidas have had several months to consider what the best possible move is regarding their leftover Yeezy stock. Donating the remaining stock was an option but Bjørn Gulden, CEO of Adidas explained to HypeBeast that “it would lead to them reaching the market in a volatile way.”
Possibly destroying the remaining inventory was another option that was considered but Bjørn reportedly told investors that the burning of several million pairs of shoes doesn’t make sense.
The path Adidas have decided to take is to over time sell as much of the merchandise as they can and to donate a portion of the proceeds to organisations that were hurt by Kanye’s statements.
Adidas are yet to confirm if all the remaining inventory will be released to the public or if only specific items will be available for sale and how the items will be released exactly.