Adidas has spent months trying to decide what to do with $1.2 billion worth of unsold Yeezy brand merchandise that has been piled up in its warehouses.
At one point, the company thought about torching all of it but that option never materialized, CEO Bjørn Gulden said this week.Instead, Adidas will sell the leftover Yeezy stock and give the proceeds to charity.
"What we are trying to do now over time is to sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye's statements," Gulden said. Gulden didn't specify which organizations would get donations, but offloading the Yeezy products will finally close the book on the once lucrative relationship between Adidas and Kanye West, now known as Ye.
Eric Liedtke, adidas Group Executive Board Member, responsible for Global Brands with Yeezy creator Ye, then Kanye West, in 2016.Adidas' collaboration with the Chicago native officially started in 2016, with the company at the time
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