Adidas is able to finally end its long, once lucrative and ultimately toxic relationship with Yeezy.
The German lively giant said it will begin selling the remaining Yeezy inventory with an initial release at the tip of the month on the brand’s adidas.com/yeezy website and on the Adidas Confirmed app.
Adidas cut ties with Ye, formerly often known as Kanye West, last October after the rapper-turned-designer migrated from being a buzzy voice in fashion to creating increasingly provocative statements to outright antisemitism.
The choice to drop Yeezy left the already challenged Adidas in a bind that went beyond how it will fill the opening left in its business to what it will do with the $1.3 billion price of inventory in hand and on the way in which.
Adidas said its process included “looking for feedback and listening to a various group of employees, organizations, communities and consumers for learn how to responsibly manage the prevailing product.”
The corporate went ahead with orders that it already committed to in order to guard its suppliers. Ultimately it decided to sell the products, with “a big amount” of the proceeds to be donated to groups combating discrimination and hate, including the Anti-Defamation League and the Philonise and Keeta Floyd Institute for Social Change.
Bjørn Gulden, who became chief executive officer of Adidas in January, said: “Selling and donating was the popular option amongst all organizations and stakeholders we spoke to. We imagine that is the very best solution because it respects the created designs and produced shoes, it really works for our people, resolves a list problem, and could have a positive impact in our communities. There isn’t any place in sport or society for hate of any kind and we remain committed to fighting against it.”
Jonathan A. Greenblatt, CEO of the Anti-Defamation League, said: “At a time when antisemitism has reached historic levels within the U.S. and is rising globally, we appreciate how Adidas turned a negative situation right into a very positive end result. They’ve shown real thoughtfulness in engaging with community organizations working to combat this pernicious and stubborn hatred. Their leadership, in not only condemning anti-Jewish hate but lending their support for education and other initiatives, is exemplary and a model for other public corporations to emulate. We thank them for his or her ongoing dialogue around their remaining inventory and their vested interest in tackling problems with prejudice and hate.”
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