Reportedly, over $1.3 billion worth of YEEZY sneakers are sitting in Adidas’ storage.
It looks as if Adidas has had a change of heart.
The global athleisure brand is resuming it’s partnership with a once-exiled Kanye West to sell over $1.3 billion worth of Yeezy products sitting in storage. The popular brand terminated its dealings with West back in 2022 after the YZY founder caused much controversy with anti-semitic remarks.
To settle the company’s profit loss and keep from having a sustainability matter, Adidas will commission Ye 15% of every sale and donate a partial amount of proceeds to organizations in support of the groups offended by Ye’s controversial remarks.
Adidas has yet to announce if all inventory will be released to the public or if only a certain item will be for sale. As of now, there still is no word when or how product will be released, or the percentage of proceeds that will be given to organizations.
What we are trying to do now over time is to sell some of this merchandise…burning the goods would not be a solution,” Bjørn Gulden, CEO of Adidas stated via HypeBeast.
Per outlet, Adidas was in talks to possibly donate remaining Yeezy kicks, but “felt that it would lead to them reaching the market in a volatile way.”
Ahead of Adidas releasing the 45-year-old from their partnership, West told Drink Champs co-hosts N.O.R.E. and DJ EFN, “I can say anti-semitic things and adidas can’t drop me. Now what?” With the latter actually happening, a ton of other deals also fell through for the DONDA boss.
Adidas released a PSA upon severing ties with Ye.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” the brand tweeted. “Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.”
The statement continued, “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products, and stop all payments to Ye and his companies. Adidas will stop the adidas Yeezy business with immediate effect.”
More information regarding Yeezy and Adidas is expected to come in the upcoming months.