Source: adidas / adidas
adidas is sticking to their word after parting ways with Kanye West. The brand will be donating $121 million dollars from YEEZY sales to charity.
As spotted on Hype Beast the Herzogenaurach, Germany based brand is making the best out of a bad situation. Back in late 2022 Kanye West infamously went on several tirades that targeted the Jewish community. Naturally his hate speech was met with uproar causing several of his corporate partners to drop him. adidas followed suit and severed ties with the “All Of The Lights” rapper on October 25. “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. adidas will stop the adidas Yeezy business with immediate effect” a press release read.
Since the announcement adidas has put the YEEZY products on pause. According to The Financial Times the apparel company will be donating close to $121 million dollars from YEEZY sales to charities that battle anti-Semitism. “We have inherited a situation that was very unfortunate,” CEO Bjørn Gulden said in a statement. “I think the YEEZY business and the [Nike] Jordan business were the only two collabs in the world that were creating these kind of premiums over a longer period. Our task now is to limit the damage, get rid of the inventory, use the proceeds for good and lead the business without YEEZY.”
On July 28 adidas announced they would be selling the existing YEEZY inventory in August. The products will be available through adidas digital platforms including the CONFIRMED app, adidas app and adidas.com.
Photo: Yeezy
