Some funds raised after selling the Yeezy stock would be donated to charities.
Adidas has announced the imminent launch of sales of its remaining Yeezy inventory. The announcement comes for the first time since the German concern prematurely severed its relationship with Kanye West in October 2022.
The news release said some funds raised after selling the Yeezy stock would be donated to charities, including The Anti-Defamation League and the Philonis and Keith Floyd Institute for Social Change.
"The sale and donation was the preferred option among all the organizations and stakeholders we talked to," said Adidas CEO Bjorn Goulden. The company's decision, he said, "takes into account the design and footwear produced, works for people, solves the inventory problem and will have a positive impact on the sports community."
The Yeezy products will be sold exclusively through Adidas' online store and mobile app. The company doesn't expect the sale to immediately improve its financial outlook for 2023, downgraded because of the breakup with West.
In October, the Anti-Defamation League called on Adidas to sever its relationship with Kanye after his hateful remarks. The league praised the company's actions and commented on Aiddas' latest decision.
"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 ADL CEO Jonathan Greenblatt.
22 MAY 2023, Germany