London Daily

Focus on the big picture.

Adidas reveals when it will sell leftover Yeezy shoes from defunct Kanye West partnership

Adidas reveals when it will sell leftover Yeezy shoes from defunct Kanye West partnership

The company said it will donate the proceeds to organisations fighting antisemitism and racism when it first outlined the plans last week.

Adidas has announced it will start selling some of the shoes from its defunct Yeezy partnership with Kanye West at the end of this month.

The company said it will donate the proceeds to organisations fighting antisemitism and racism when it first outlined the plans last week.

The German sportswear maker was left with Yeezy shoes worth $1.3bn (£1bn) after cutting ties with West, who now goes by the name Ye, over antisemitic comments he made last year.

Adidas did not say how much it would donate, saying only a "significant amount" would be given to organisations including the Anti-Defamation League.

It will also donate proceeds to the Philonise & Keeta Floyd Institute for Social Change.

The institute is run by the brother of George Floyd - an unarmed black man who was murdered by a police officer in Minnesota in 2020.

"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.

"There is no place in sport or society for hate of any kind, and we remain committed to fighting against it."


The release of some of the shoes marks the first time Adidas has sold Yeezy products to customers since ending the partnership in October.

The value of Yeezy shoes in the resale market has rocketed since, with some more than doubling in price.

Adidas did not specify whether it would seek to control the resale market for the shoes.

It said there could be further releases of Yeezy stock, but no decisions have been made on timing.

The announcement has no immediate impact on the group's 2023 outlook.

"At a time when antisemitism has reached historic levels in the U.S. and is rising globally, we appreciate how Adidas turned a negative situation into a very positive outcome," Anti-Defamation League CEO Jonathan Greenblatt said.

Newsletter

Related Articles

London Daily
0:00
0:00
Close
CIA and MI6 Chiefs Unite Amid Global Crises
UK Tycoon Mike Lynch's Cause of Death Revealed: Autopsy Report
Mass Protests Erupt Across France Against New Prime Minister Barnier
Iranian Plots to Kill Jews in Europe Unveiled
Huawei Poised for Major AI Chip Unveil at Shenzhen Event
Nvidia’s AI chips are cheaper to rent in China than US
China ends tariffs on all goods exported to China from the poorest countries in the world it has diplomatic ties with, including 33 African nations
Blinken May Not Seek Another Term Due To Family Priorities
Labour Pushes for Special Tribunal Against Russia for Ukraine Invasion
Oil Companies to Contest Judicial Review of North Sea Projects
Ed Balls Urges Keir Starmer and Rachel Reeves to Address Winter Fuel Payments Controversy
British Army Major General Dismissed for Unwanted Advances
Campaigners Urge Bold Actions to Combat Rising Heart Disease in UK
UK Requires One Trillion Pounds Investment for Economic Growth
Plan to House Asylum Seekers at Former Dambusters Home Dropped
UK Drops Indecent Assault Charges Against Harvey Weinstein
Return of Brazilian Artworks to Bahia
UK Signs Landmark International AI Treaty
Demand for Justice After Death of Ugandan Runner Set on Fire
Ukraine's Major Government Reshuffle: Andrii Sybiha Appointed New Foreign Minister
North Korea Executes Officials Over Flood Response
French Woman Testifies in Landmark Rape Trial
Sicily Yacht Disaster: Fatal Asphyxiation Claimed More Lives
Michel Barnier Appointed as Prime Minister of France
The art technique of Grandma Mei Ling, age 82
Mongolia Refuses to Arrest Putin Despite ICC Warrant
UK State Pension to Increase by Over £400 Annually
Amazon Announces 10% Pay Increase for UK Workers
Grenfell Tower Fire Inquiry Demands Swift Justice
French Police Clear Migrant Camp Near Calais
New Law Proposes Jail Time for Covering Up Sewage Dumping in England and Wales
John Swinney's Government Programme Faces Criticism in Scotland
France Pilots Mobile Phone Ban in Schools
Priti Patel Eliminated in First Round of Tory Leadership Race
And Justice for ALL: Elon Musk threatens to go after Brazilian government assets
WHO-Led Study Finds No Link Between Mobile Phones and Brain Cancer
US Charges Hamas Leaders With Terrorism Over October 7 Attack on Israel
Russian Missile Strike Kills 49 in Poltava, Ukraine
Major Cabinet Resignations in Ukraine
Tory Leadership Candidates Criticize Rivals' Promises to Leave ECHR
Campaigners Propose Pay-Per-Mile Charge for UK Electric Cars
Labour Urged to Shift Asylum Policy Rhetoric
Hossein Shamkhani: The Rise of an Oil Tycoon
Putin Defies ICC Arrest Warrant with Mongolia Visit
Frenchman On Trial for Decade-long Abuse of Drugged Wife
The British bus driver explains to usual suspects that they cannot travel without a ticket. Education is important.
Irish Police Arrest Enoch Burke, the teacher who refuses to endorse and affirm transgender ideology
US Soldier Attacked in Turkey
Switzerland Urged to Reconsider Its 500-Year Neutrality
AfD's Historic Victory in Thuringia State Election, Germany
×