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Adidas is doing everything possible to make up for its troublesome partnership with Kanye West during his bigoted tirade last year.
According to numerous reports published on Friday, May 19, the sneaker giant announced its plans to sell off the remaining stockpile of Yeezy shoes and donate the profits to charity organizations that combat racism and antisemitism. With at least $1.3 billion worth of product to get rid of, adidas aims to give a "significant amount" to organizations like the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, which is a non-profit launched by the late George Floyd's brother, Philonise.
"We believe this is the best solution as it respects the created designs and the produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities," CEO Bjoern Gulden said according to Reuters. "There is no place in sport or society for hate of any kind and we remain committed to fighting against it."
It's been seven months since adidas severed its partnership with Kanye West and his Yeezy brand due to his outrageous string of anti-Semitic outbursts on right-wing media platforms. Other brands who were associated with the artist didn't waste much time in cutting ties with him. Adidas was the last major corporation to speak out against Ye's antics. While Ye has yet to issue a formal apology for all the offensive comments he made last year, adidas is doing what it can to make amends.
Adidas will begin selling Yeezys again at the end of May. Ye will reportedly be entitled to up to 15 percent turnover of each shoe sold, however, he has not commented on adidas' plans.