Adidas has put some of their remaining Yeezy stock back on the market months after severing ties with Kanye West due to his antisemitic remarks and other offensive comments.
Last month, the German sportswear giant confirmed they would begin selling off some of the tens of thousands of Yeezy sneakers in storage at the end of May. On Wednesday afternoon (May 31), the first batch of remaining Yeezy sneakers and slides went on sale.
The brand claimed it was poised to eat a $1.3 billion revenue loss in 2023 if it failed to sell the remaining Yeezy inventory. While Ye lost his billionaire status as Adidas and other brands cut ties, he will be entitled to 15 percent of Yeezy sales.
Adidas pledged to donate a “significant amount” of Yeezy proceeds to organizations combating antisemitism and discrimination.
“After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products,” Adidas CEO Bjørn Gulden said in a May press release. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to.”
He added, “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 sale came amid multiple reports Adidas dropped a lawsuit to freeze $75 million of Kanye West’s Yeezy funds. The brand made the abrupt reversal just hours after a federal judge denied Adidas’ request for an emergency order re-freezing money.
Both parties agreed Adidas would voluntarily dismiss the case and pursue the money through private arbitration.
