Yeezy Sneakers Back on Sale Adidas Resumes Distribution

Yeezy Sneakers Back on Sale Adidas Resumes Distribution wsjnewspaper

Adidas is set to commence the sale of its surplus inventory of unsold Yeezy sneakers this month, benefiting anti-racism organizations through donations.

On Friday, the sportswear brand announced that it would direct donations from the sales of Yeezy products towards organizations such as the Anti-Defamation League, a group combating prejudice, and the Philonise & Keeta Floyd Institute for Social Change, founded by Philonise Floyd, brother of George Floyd.

In a statement, the company’s CEO, Bjørn Gulden, stated, “After thorough deliberation, we have opted to initiate the release of the remaining Adidas Yeezy products.

Selling and donating emerged as the preferred choice among all the organizations and stakeholders we consulted. We believe this to be the optimal solution.”

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Adidas terminated its partnership with rapper Kanye West, now known as Ye, in October following his anti-Semitic remarks. Since then, the company has been deliberating on how to handle over $1 billion worth of unsold Yeezy stock, deeming it inappropriate to sell the products as usual.

Earlier this month, Gulden announced that Adidas had ruled out destruction or giveaway of the products, opting instead to sell a portion of the Yeezy inventory and contribute the proceeds to charitable causes.

The company confirmed that West, in accordance with his contract with Adidas, will receive royalties, although they did not disclose precise figures.

Previously critical of Adidas’ handling of the West controversy, the Anti-Defamation League subsequently joined forces with the company in November. On Friday, Jonathan A. Greenblatt, the CEO of the Anti-Defamation League, commended Adidas for finding a respectful resolution, stating, “We appreciate how Adidas transformed a negative situation into a highly positive outcome.”

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Gulden, who assumed leadership of Adidas at the beginning of the year, has undertaken a turnaround strategy for the German company, which has experienced losses in recent quarters.

The loss of the lucrative Yeezy partnership, along with store closures in Russia last year and declining revenues in China, a previously crucial growth market, has posed challenges for the company.

Anticipate a fervent demand from sneaker enthusiasts for the final generation of Yeezy Sneakers products, as Yeezy shoes continue to sell strongly on secondary market platforms despite West’s controversial comment. Adidas will make the shoes available through its website and app.

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