Adidas to start selling stockpile of Yeezy sneakers later this month

NEW YORK –

Adidas mentioned Friday that it’s going to start promoting its greater than $1 billion value of leftover Yeezy sneakers later this month, with the proceeds to be donated to varied anti-racism teams.

The German sportswear model mentioned recipients will embody the Anti-Defamation League, which fights antisemitism and different types of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd.

“After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products,” mentioned Adidas CEO Bjorn Gulden in a press release. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”

Yeezy merchandise have been unavailable to buyers since Adidas terminated its partnership with Ye, previously generally known as Kanye West, in October 2022 following his antisemitic feedback on social media and in interviews.

The gadgets to be offered embody current designs in addition to designs that have been within the works in 2022 on the market this 12 months, Adidas mentioned.

At Adidas’ annual shareholders assembly earlier this month, Gulden mentioned the corporate had spent months looking for options earlier than deciding towards destroying the gadgets and to quite promote them to profit numerous charities that have been harmed by what Ye mentioned.

The firm mentioned Friday that the transfer has no instant affect on the corporate’s present monetary steering for 2023.