Instead of burning excess Yeezy inventory, Adidas plans to sell some of it and donate the money to charity.
Adidas intends to sell part of its leftover Yeezy inventory and donate the money to charities that were harmed by Ye's anti-Semitic comments, said the company's CEO.
CEO Bjorn Gulden said it was the right thing for Adidas to terminate the contract of their biggest star, Ye, the artist formerly known as Kanye West.Scott Olson | Getty Images intends to sell part of its leftover Yeezy inventory and donate the money to charities that were harmed by Ye's anti-Semitic comments, the company's chief executive said Thursday."When we do that and how we do that, remains to be seen but we're working on that" he said."Burning the shoes cannot be the solution," Gulden said. He says he came to that conclusion after talking with various NGOs and the learning of the environmental damage.
"He is a difficult person, but he's arguably the most creative person in our industry," he said. "He created a model with Adidas that was sought after around the world," he added. Gulden took the helm of Adidas on Jan. 1, following CEO Kasper Rorsted's departure. He previously worked at rival Puma.
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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.
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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.
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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.
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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
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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.
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