Adidas resumes selling Yeezys, with part of the profits going to social justice organizations.
Adidas has brought back a portion of its remaining Yeezy shoe inventory for sale, months after severing ties with rapper Ye, formerly known as Kanye West. The company ended its partnership with Ye in late October following his antisemitic remarks and other harmful actions, which had sparked widespread backlash.
The decision to part ways with Ye led to uncertainty regarding the fate of Adidas’ Yeezy line, with an estimated $1.3 billion worth of unsold shoes left in the company’s inventory. Adidas faced a dilemma on how to handle this stock while also addressing the public relations challenges caused by the controversy.
Earlier this month, Adidas CEO Bjørn Gulden announced that the company would begin selling a portion of the remaining Yeezy shoes. The sales would include a commitment to donate part of the profits to social justice organizations, aiming to balance the financial interests with a socially responsible cause.
The first batch of Yeezys went on sale Wednesday, available exclusively through Adidas’ “Confirmed” app. The shoes, highly sought after by sneaker enthusiasts, have been reintroduced as a way to recoup some of Adidas’ losses after ending its lucrative partnership with Ye.
Part of the funds generated from the sale of these shoes will be directed to several charitable organizations. Among the beneficiaries are the Anti-Defamation League, which works to combat antisemitism and hate, and the Philonise & Keeta Floyd Institute for Social Change, founded by the family of George Floyd.
This initiative highlights Adidas’ attempt to use the profits from the controversial Yeezy line to support causes that promote social justice. The company hopes this move will help repair its reputation following the backlash over its association with Ye.
Adidas’ decision to re-release Yeezys has been met with mixed reactions. While some applaud the company’s efforts to support important causes, others believe the move is primarily financially motivated. Nevertheless, the ongoing sale of Yeezys marks a new chapter for the brand as it seeks to navigate the aftermath of its high-profile split with Ye.