Adidas has recently unveiled its plans to sell off the remaining inventory of its highly sought-after Yeezy line, with the proceeds going to charitable organizations. Among the beneficiaries are the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change, a foundation established by George Floyd’s family.
The announcement, made on May 19, indicates that Adidas will initiate the sale of the $1.3 billion worth of unsold Yeezy inventory starting from May 31. The decision to donate the proceeds to these specific organizations stems from the impact of Kanye West’s previous controversial remarks, which included anti-Semitic rhetoric and misinformation about George Floyd’s death. These incidents sparked outrage and protests in Los Angeles, with the ADL condemning West’s hateful expressions.
In response to the situation, Adidas CEO Bjørn Gulden expressed the company’s thoughtful consideration and stated, “After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products. Selling and donating was the preferred option among all organizations and stakeholders we spoke to. We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities. There is no place in sport or society for hate of any kind, and we remain committed to fighting against it.”
The ADL’s CEO, Jonathan A. Greenblatt, concurred with Gulden’s sentiments and commended Adidas for its charitable initiative. He stated, “At a time when antisemitism has reached historic levels in the U.S. and is rising globally, we appreciate how adidas turned a negative situation into a very positive outcome. They have shown real thoughtfulness in engaging with community organizations working to combat this pernicious and stubborn hatred.” Greenblatt further praised Adidas for condemning anti-Jewish hate and lending support to education and other initiatives, emphasizing that their leadership sets an exemplary model for other companies to follow.
Additionally, Adidas will collaborate with the Philonise & Keeta Floyd Institute for Social Change, founded by George Floyd’s brother, Philonise Floyd, to support community programs through sports and education. The partnership aims to make a positive impact on various communities.
According to the press release, a selection of existing Yeezy designs will be exclusively available through the adidas.com/yeezy portal at the end of this month. This final release represents the last opportunity for sneaker enthusiasts to secure a pair of Yeezy kicks.
This move marks the complete disassociation between Adidas and Kanye West, following their decision to sever ties with him in October 2022 due to his anti-Semitic remarks. However, the sportswear giant is also facing a class-action lawsuit from shareholders who accuse the brand of being aware of West’s erratic behavior long before ending their partnership.
For more information and updates on the Yeezy inventory sale, interested individuals can visit adidas.com.
