Adidas Decide To Sell Remaining Yeezy Stock And Donate The Proceeds
11 May 2023
Adidas have finally decided on what they will do with the last of their Yeezy products, opting to sell the remaining stock and donate some of the proceeds to charity.
Having ending their partnership with rapper/designer Kanye West over his anti-Semitic comments late last year an estimated £1.2bn in Yeezy products has been collecting dust in warehouses.
The sportswear giants chief executive Bjoern Gulden spoke at the company’s annual shareholder meeting saying: “What we are trying to do now over time is to sell some of this merchandise… burning the goods would not be a solution.”
Gulden also relayed that the controversy had contributed to the company’s first annual loss in 31 years.
The company had decided against donating the sneakers to avoid them indirectly reaching the market.
Despite the end of their relationship West will still be entitled to previously-agreed commissions of 15% of turnover, according to reports.