Adidas has announced plans to sell some of its remaining inventory of Yeezy products, with an initial release scheduled for May 31, 2023. The range of existing designs will be available exclusively through adidas.com/yeezy and the adidas CONFIRMED app. This decision comes after months of deliberation on what to do with the unsold Yeezy merchandise following the company's split with Ye, the rapper and fashion designer formerly known as Kanye West, due to his antisemitic remarks.
Adidas CEO Bjorn Gulden revealed that the proceeds from the sales of the unsold Yeezy shoes would be donated to charity. The company had considered various options, including destroying the shoes, but ultimately decided against it. Instead, Adidas aims to sell parts of the inventory and donate the money to organizations that were also hurt by Ye's statements.
The Yeezy shoes have always been a premium product, with prices ranging from $200 to $625. The most commonly sold version, the Yeezy Boost 350, retails for about $230, depending on the style. Despite being taken off the shelves, the demand for Yeezy shoes remains high, with resale prices soaring well above retail value.
Adidas' decision to sell the remaining Yeezy products comes after a group of investors filed a class-action lawsuit against the company, accusing it of knowing about Ye's problematic behavior years before cutting ties with him. Adidas has denied these allegations. The discontinuation of the Yeezy business has cost the company nearly $440 million in sales in the first quarter alone.
It is still unclear whether Ye would receive any payments from the sale of the Yeezy stockpile, and Gulden did not provide details on which organizations would receive donations. However, the move to sell the remaining Yeezy products and donate the proceeds to charity demonstrates Adidas' commitment to making a positive impact in the wake of the controversy surrounding its former partnership with Ye.
Adidas has long been a leading brand in the sportswear market, with a marketing strategy that emphasizes quality, innovation, diversification, and heavy-budget advertisements. The company's decision to sell the remaining Yeezy inventory and donate the proceeds to charity aligns with its core values and dedication to social responsibility.
