Apparel and footwear company Adidas has resumed selling the remainder of its Yeezy inventory. As The Shade Room previously reported, the company placed its partnership with Kanye West “under review” following his antisemitic comments last year. Then subsequently parted ways with the rapper and his products soon after.
RELATED: Oop! Adidas Reportedly Expected To Lose $1.3 BILLION In Revenue After Parting With Kanye West
Adidas’ Remaining Yeezy Inventory Returned To Sale Wednesday
According to Associated Press, a remainder of select Yeezys returned to sale on Wednesday. According to the Adidas website, the sneakers are available via the brand’s Confirmed app.
adidas Yeezy has plenty of releases lined up for the Summer 👀
Which pairs do you plan on picking up!? pic.twitter.com/g6p7kj5GQc— Sneaker News (@SneakerNews) May 31, 2023
Additionally, the brand also states that proceeds from the sale of Yeezy items “will be donated in support of the fight against discrimination, hate, racism, and antisemitism.”
According to an official press release, Adidas initially announced its plans on May 19. In addition, the brand also detailed the names of some of the organizations to receive the donations.
“A significant amount will be donated to selected organizations working to combat discrimination and hate, including racism and antisemitism. These include but are not limited to the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change…”
The Company Also Detailed Their Plans Forward
As The Shade Room previously reported, Adidas terminated its partnership with the Yeezy brand in October, and Wednesday’s reselling marks the first time the brand has returned to sales of Yeezy products since.
Although select styles have returned the sale, the company adds the sale of future “existing inventory” remains to be determined.
“Additional releases of existing inventory are currently under consideration, but timing is yet to be determined.”
Additionally, the company also provided insight into its financial state and its decision to return select Yeezy styles to sale.
“Today’s announcement has no immediate impact on the company’s current financial guidance for 2023. Since terminating the YEEZY partnership in October, adidas has been exploring multiple scenarios for the potential use of the existing YEEZY inventory. The process involved seeking feedback and listening to a diverse group… for how to responsibly manage the existing product. The company went ahead with already committed production orders after the partnership was terminated. This was done to help protect its supply chain partners from being negatively affected by cancellations.”
Adidas still hasn’t figured out what to do with $1.3 billion worth of high-end Yeezy sneakers after splitting with the rapper formerly known as Kanye West. The shoes have been sitting in warehouses for nearly seven months. https://t.co/Q1Ro6WPVtj
— The Associated Press (@AP) May 5, 2023
Adidas’ CEO, Bjørn Gulden, also issued a statement regarding the matter.
“After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products. Selling and donating was the preferred option among all organizations and stakeholders we spoke to. 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, and we remain committed to fighting against it.”
Furthermore, Gulden praised the company for turning “a negative situation into a very positive outcome.”
