The German sports giant promises to donate the funds raised to charity.
Adidas decided not to burn the remains of goods from the Yeezy collections but to send them for sale. The German sports giant promises to donate the funds raised to charity to organizations affected by Kanye West's statements.
It was initially reported that Adidas was considering destroying all stock of Yeezy, but later the company decided to abandon this idea. Conservationists pointed out that significant damage could be done to nature.
"For the last four months, we have been trying to find solutions on what to do with it. Burning the goods is not the solution. Now, talking to all the NGOs, and a lot of organizations that have been hurt by Kanye, they all say, 'No, that's not the solution,'" commented in Adidas.
The company stressed that the decision to terminate the contract and stop cooperating with Kanye West was correct. After the breakup the company received about 500 offers for the remainder of the Yeezy collections, and the refusal to sell them brought Adidas enormous losses. The total value of the sneaker inventory is about $500 million, and the sales value would have been more than $1 billion.
"What we are trying to do now over time is to sell parts of this inventory and donate money to the organizations that are helping us and that was also hurt by Kanye's statements. When we will do that and how we will do that is not clear yet, but we are working on those things. But I think burning the products is not the point. And we will update you as soon as that decision is made." added Adidas.