Adidas To Sell Leftover Yeezy Inventory & Donate Proceeds To Charity After Cutting Ties w/ Kanye West Over Antisemitic Remarks

Kanye West

Adidas To Sell Leftover Yeezy Inventory & Donate Proceeds To Charity After Cutting Ties w/ Kanye West Over Antisemitic Remarks

Yeezy fans will get a chance to purchase some of their favorite items once more.

Adidas Chief Executive Officer Bjørn Gulden reportedly stated in a recent shareholder’s meeting that the company plans to sell its shelved Yeezy inventory, despite terminating its relationship with the brand’s creator Kanye West.

If you recall, former billionaire Kanye West, 45, lost several big-money partnerships last year during his tirade against the Jewish community. The entertainer’s controversial comments sparked a months-long media war, which began while speaking to fellow rapper N.O.R.E. on his podcast “Drink Champs”.

During the segment, the Donda artist accused the Jewish community of controlling the media and seemingly blamed them for many of the Black Americans’ oppressive woes. West even included in his attack a since-deleted tweet in which he threatened to go “death con 3” on Jews.

West’s remarks garnered widespread backlash and resulted in losing his most lucrative financial deals with GAP and Adidas, which led to the end of his billionaire status.

Since Adidas cut ties with the multi-Grammy Award winner, multiple rumors have swirled about what the company plans to do with its reported billion dollars worth of Yeezy products. Initially, it was speculated the German apparel company would destroy it. However, Gulden recently announced they’re working out a deal to sell the merchandise and donate the proceeds to different organizations. Reportedly, he stated:

“Burning the goods is not the solution … What we are trying to do now over time is to sell parts of this merchandise and donate money to the organizations [that were] hurt by Kanye’s statements,”

And added:

 “When we will do that and how we will do that is not clear yet, but we are working on those things.”

Gulden also reportedly defended his decision to continue working with West in order to resolve the consequences of their failed partnership and said:

“As difficult as he was, he is perhaps the most creative mind in our industry.”

Kanye West

Reportedly, Adidas stood to lose $549 million if they opted not to “repurpose” the Yeezy products. It’s noted that Yeezy is estimated to make up around 8% of Adidas’ annual revenue, signifying a big loss for the organization. Gulden reportedly has already said that West is “entitled” to his previously agreed commission,” which is reported to be 15% of turnover. However, it is unclear if the agreement will remain intact with Adidas’ new plan.

[VIA 1,2]

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