Adidas’ remaining Yeezy shoes are back on sale — months after the German sportswear company cut ties with Ye, the rapper formerly known as Kanye West.
Adidas ended its years-long partnership with Ye in late October, following his anti-Semitic comments and other harmful behavior. In the months that followed, the fate of 1.2 billion euros ($1.3 billion) worth of unsold Yeezys remained unknown—until earlier this month, when Adidas CEO Bjorn Gulden announced that the company would sell a portion of the remaining inventory and donate some will do Promotes social justice institutions.
The first batch of Adidas’ remaining Yeezys went on sale on Wednesday. At the moment, the sneakers appear to be available through Adidas’ app “Confirmation,” according to the retailer’s website. Adidas says a portion of the profits will be donated to organizations including the Anti-Defamation League and the Philonise and Keita Floyd Institute for Social Change.
Wednesday’s release marks the first time Adidas has sold Yeezys since the partnership ended in October. Yeezy products for sale will include pre-existing designs as well as those launched in 2022 and set to release in 2023, Adidas previously noted.
“We believe that (selling and donating these Yeezys) is the best solution because it honors the design and the finished shoe, it works for our people, it solves the inventory problem, and will have a positive impact in our communities,” Gulden said in one. Statement dated 19 May.
At the May 11 annual shareholder meeting, Gulden explained that the company made the decision to sell and donate Yeezys after speaking with non-governmental organizations and groups that were harmed by Ye’s comments and actions.
Some details of Adidas’ plans are still unclear — including how many Yeezys will eventually go on sale and what portion of the sales will be donated. The Associated Press reached out to Adidas for more information on Wednesday.
Cutting ties with Ye cost Adidas hundreds of millions of dollars — contributing to a 600 million euro ($655 million) loss in sales for the last three months of 2022, pushing the company to a quarterly net loss of 513 million euros. got help
Adidas lost 400 million euros ($441 million) in sales through the start of 2023, the company announced earlier this month.
The company said net sales fell 1% to 5.27 billion euros in the first quarter. It reported a net loss of 24 million euros, a drop from a profit of 310 million euros in the same period a year earlier.
Operating profit, which excludes certain items such as taxes, fell to 60 million euros from 437 million euros a year earlier.
Meanwhile, investors also Class-action lawsuit against Adidas in late April, alleging that the company knew about the offensive comments and harmful behavior for years before it terminated its contract with him. Adidas has backed away from the allegations.
