Adidas Commits to Charitable Contributions from Yeezy Trainer Sales, Keeps Donation Amount Confidential
Adidas is to sell another batch of its Yeezy trainer line with some of its profits heading to charity, but has remained silent on how much money will be donated.
The German sports brand were left in a hole since it severed ties with rapper Ye, formerly Kanye West, over his antisemitic comments late last year.
The end of the fashion collaboration left Adidas with €1.2bn (£1.02bn) worth of unsold trainers and resulted in the company’s first annual loss in more than three decades.
Adidas has since tried to find ways to dispose of their stock with its boss Bjorn Gulden saying that burning the goods “would not be a solution”.
Instead, the sportswear giant sold a set of the shoes in May with the aim of donating some of the money to charity – and will be doing the same again as its online sale is due to begin on Wednesday.
Other companies like Balenciaga broke up with Ye. Pic: AP
However, Adidas did not reveal how much of the proceeds would be given away, nor did it say how many shoes would be released for sale.
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Mr Gulden said Adidas had communicated with a couple of US-based organisations where some of the money is due to go to – one being the Anti-Defamation League, a Jewish organisation specialising in fighting antisemitism.
The other was Philonese and Keeta Floyd Institute for Social Change, run by the brother of murdered US man George Floyd.
The firm also announced footwear sold in North America would include blue square pins as symbols of rejecting antisemitism.
When asked if Ye would receive royalties from the sales, the company said it would honour its “contractual obligations and enforce [its] rights” without giving further details.
Its first Yeezy sale resulted in the company still making a loss – €450m (£385m) this year as opposed to €700m (£600m).
Adidas said its imminent sale, which will include some premium names including the Yeezy Boost 350 V2 and the Foam RNR, is expected to further boost its results.
