Adidas said Friday that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups.
The German sportswear brand said recipients will include the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd.
“After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products,” said Adidas CEO Bjorn Gulden in a statement. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”
Yeezy products have been unavailable to shoppers since Adidas terminated its partnership with Ye, formerly known as Kanye West, in October 2022 following his antisemitic comments on social media and in interviews.
The items to be sold include existing designs as well as designs that were in the works in 2022 for sale this year, Adidas said.
At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said.
The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023.
(AP)
Follow us on:
IPOB distanced itself from Simon Ekpa, calling him a “destructive agent” who infiltrated and destabilised…
Biden has condemned ICC's arrest warrants for Netanyahu and Gallant, calling them "outrageous" amid global…
Chukwuma Ezeala has said that despite Simon Ekpa’s arrest, identifying his disciples in Southeast Nigeria…
The federal government has reinstated Professor Joseph Ikechebelu as acting Vice-Chancellor of UNIZIK, nullifying Professor…
Court of Appeal has overturned the Federal High Court ruling barring INEC from releasing voter…
Kenya has cancelled airport and energy deals with Adani following US bribery and fraud charges…
View Comments
gerian IMPOUNDED VEHICLES FOR SALE IN A CHEAP AND AFFORDABLE AUCTION PRICE INTERESTED BUYER SHOULD KINDLY CONTACT OFFICER MrsEze . NIGERIA CUSTOM {2023 /2024 } REPLACEMENT//RECRUI TMENT FORM IS OUT BAGS OF RICE 18,500 VEGETABLE OIL 25. LITTER 10,000 TOKUMBO VEHICLE FOR SALE AT AUCTION PRICE INTERESTED BUYER SHOULD CONTACT OFFICER MrsEze ON [O7O 4540 6674] CARS FEATURES AND PRICE BELOW GOLF 2,3,4,5 #350,000 TOYOTA CAMRY BIG DADDY #550,000 TOYOTA CAMRY TINYLIGH= #350,000 TOYOTA CAMRY MUSCLE= #850,000 TOYOTA CAMRY PENCILLIGHT=#400,000 TOYOTA COROLLA le=#550,000 TOYOTA COROLLA S=#750,000 TOYOTA VENZA=#950,00 1.8m TOYOTA Hilux 1.5 million TOYOTA AVALON #800,000 TOYOTA AVENSIS #700,000 TOYOTA RAV4 800,000 TOYOTA SIENNA #650,000 TOYOTA 4runner#850,000 TOYOTA TUNDRA 1.9m TOYOTA PICNIC #550,000 TOYOTA Highlander #950,000 TOYOTA PADRO JEEP 1.6m TOYOTA LAND CRUISER=1.5m TOYOTA YARIS #459,000 TOYOTA MATRIX #650,000 TOYOTA HAICE BUS #950,000 ACCURA ZDX 1.6m ACCURA MDX 1.9m HONDA PILOT #950,00 HONDA BABY BOY #550,000 HONDA END OF DISCUSSION 600,000 HONDA ACCORD #450,000 Honda CR-V #850,000 INFINITY fx450 #750,000 to 1.4m NISSAN MURANO #650,00 LEXUS RX 350 #1.2m LEXUS RS 330 # 1m LEXUS RS 300 # 900,000 LEXUS RX 470 1.5m All NEGOTIABLE WE RENDER GOOD SERVICE TO CUSTOMER ....{ E.T .C} LOCATION AT OGUN STATE IDIROKO BORDER WE HAVE TWO OPTION ELDER WE DELIVERY OR YOU COME OVER IF WE HAVE TO COME OVER WE NEED THIS FROM YOU {1} NATIONAL ID CARD {2} BORDER PERMIT {3} INSPECTION DOCUMENTS {4} 2PASSPORT THANKS FOR YOUR PATRONAGE WE DELIVER TO 36 STATE IN NIGERIA AND ALSO COME DOWN WITH THE FULL PAYMENT CALL FOR MORE INFORMATION {O7O 4540 6674 }