Months after discontinuing the product and severing ties with Ye, the artist formerly known as Kanye West, Adidas has resumed selling the Yeezy shoes online. After reporting in May that it had nearly $1.3 billion in unsold merchandise, the German business restarted sales of the designer shoes on Wednesday. As a result of a wave of anti-Semitism allegations against the entertainer, Adidas severed its connections with Ye.
What does the Statement Say?
According to a press statement from the business, “The release will mark the first time that products have been available to consumers since adidas terminated the YEEZY partnership in October 2022.” “The products will consist of both current designs and those that were started in 2022 for sale in 2023.
There are currently discussions about additional releases of current stock, but timing has not yet been decided. On the Adidas website, there are presently advertisements for Yeezy shoes for sale. At the bottom of the website, the business placed a disclaimer stating that a portion of each sale would be “donated in support of the fight against discrimination, hate, racism, and antisemitism.” According to Adidas, the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change will get the contributed funds.
A Positive Impact
“We believe [selling the shoes] is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and it will have a positive impact in our communities,” Adidas CEO Bjorn Gulden said in a statement on May 19. Adidas is only selling the extra pairs of sneakers through its mobile app, where they can be bought for as little as $70 and as much as $280.
In the wake of the breakup with Ye, shareholders who claimed they suffered financial harm filed a class-action lawsuit against Adidas. They said the corporation allegedly knew about Ye’s objectionable behavior and failed to properly disclose it to investors over time, which led to the losses they experienced. According to Adidas, it “outright reject[s]” the allegations.