Adidas says it won't destroy its mountain of unsold Yeezy stock but plans to sell these items and donate profits to charity
worth of stock it still had leftover from its partnership with West.
But at Adidas' annual shareholder meeting on Thursday CEO Björn Gulden told investors that burning these products is not the solution and it will instead"sell parts of this inventory" over time. Gulden spoke in German at the meeting; a translated version of his comments was shared with Insider by an Adidas spokesperson.
Gulden then went on to say that Adidas plans to donate the profits from the sale of these items to organizations representing people who"were hurt" by West's comments.Adidas did not immediately respond to Insider's request for comment.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Adidas will sell Yeezy shoes and donate proceeds, CEO saysAdidas plans to sell its stock of about $500 million worth of unsold Yeezy shoes that were designed by Kanye West and donate the proceeds to charity, chief executive Bjorn Gulden told shareholders Thursday.
Baca lebih lajut »
Adidas to sell some Yeezy stock, donate proceeds - CEOAdidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden said on Thursday.
Baca lebih lajut »
Adidas will sell some leftover Yeezy inventory instead of burning it, CEO saysInstead of burning excess Yeezy inventory, Adidas plans to sell some of it and donate the money to charity.
Baca lebih lajut »
Adidas finally reveals its plan for millions of unsold Yeezy shoes: sell them for charityAdidas won't destroy its Yeezy inventory worth over $1.2 billion, after all, but will instead sell the shoes and donate the proceeds
Baca lebih lajut »
Adidas to Start Selling $1 Billion Pile of Yeezy Sneakers, Donate Proceeds to CharityThe sportswear brand ended its partnership with Kanye West last year over the rapper's antisemitic comments, leaving it with more than $1 billion worth of unsold stock.
Baca lebih lajut »
Adidas to sell Yeezy line, donate proceeds to charity following split with KanyeAdidas CEO Bjørn Gulden said during the company's annual meeting in Germany that burning the goods is not a solution.
Baca lebih lajut »