Apparel and footwear company Adidas has resumed sales of the remainder of its Yeezy inventory. As The Shade Room previously reported, the company placed its partnership with Kanye West “under review” following his anti-Semitic comments last year. Then the latter soon parted ways with the rapper and his products.
RELATED: Oops! Adidas reportedly expects to lose $1.3 billion in revenue after split from Kanye West
adidas’ remaining Yeezy inventory returns for sale on Wednesday
According to the Associated Press, the remaining select Yeezys returned for sale on Wednesday. According to the adidas website, the sneakers are available through the brand’s Confirm app.
Adidas Yeezy has tons of releases lined up for summer 👀
Which pairs are you planning on getting!? 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, hatred, racism and anti-Semitism.”
Adidas initially announced its plans on May 19, according to an official press release. Apart from this, the brand also detailed the names of some of the organizations to receive the donation.
“A significant amount will be donated to selected organizations working to combat discrimination and hatred, including racism and anti-Semitism. These include, but are not limited to, the Anti-Defamation League (ADL) and the Philonise and Keita Floyd Institute for Social Change…”
The company detailed its plans even further
As The Shade Room previously reported, Adidas ended its partnership with the Yeezy brand in October, and Wednesday’s resale marks the first time Yeezy products are back on sale.
Although select styles have returned sales, the company determines future sales of “existing inventory”.
“Releases in addition to existing inventory are being considered, but timing has not yet been determined.”
Additionally, the company also provided information regarding its financial condition and its decision to return select Yeezy styles for sale.
“Today’s announcement has no immediate impact on the company’s current financial guidance for 2023. Since ending the YEEZY partnership in October, adidas has been exploring a number of scenarios for possible uses for existing YEEZY inventory. Involved in the process of listening to and receiving feedback from a diverse group on how to responsibly manage the existing product. After the partnership ended the company went ahead with production orders already committed. This was done to help protect its supply chain partners from being negatively impacted by the cancellation.
Adidas still hasn’t figured out what to do with $1.3 billion worth of high-end Yeezy sneakers following its split from the rapper formerly known as Kanye West. The shoes have been lying in the godowns for about seven months. https://t.co/Q1Ro6WPVtj
— Associated Press (@AP) May 5, 2023
Adidas CEO Bjorn Gulden also issued a statement regarding the matter.
“After careful consideration, we have made the decision to release some of adidas’ remaining YEEZY products. Selling and donating was the preferred option among organizations and stakeholders we spoke to. We believe this is the best solution because it respects the designs created and the shoes produced, it works for our people, solves the inventory problem, and will have a positive impact on our communities. There is no place for hate in sport or society and we are determined to fight against it.”
Furthermore, Gulden praised the company for “turning a negative situation into a very positive result”.