Adidas to donate Yeezy proceeds to charity
The company has announced that a “portion from the sale of these items will be donated in support of the fight against discrimination, hate, racism, and antisemitism.”
Adidas' Yeezy sneakers are back on the market with the company announcing that it will be donating some of the proceeds to charity.
Although this decision was announced earlier in May, the company said "additional releases of existing inventory are currently under consideration, but timing is yet to be determined".
According to HipHop DX, the plan went into action on 31 May, with Adidas’ official site advertising the sale of some of the remaining inventory.
Adidas released a statement saying a 'significant amount will be donated to selected organisations working to combat discrimination and hate, including racism and antisemitism'.
READ: Adidas stuck with Yeezy gear after dropping Kanye
The CEO of the company, Bjørn Gulden, said: “After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products.
“Selling and donating was the preferred option among all organizations and stakeholders we spoke to. We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities."
The CEO added that Adidas is committed to standing against social ills.
"There is no place in sport or society for hate of any kind and we remain committed to fighting against it,” he said.
One of the organisations that the company has partnered with is the Philonise & Keeta Floyd Institute for Social Change, which is run by Philonise Floyd, the brother of George Floyd.
Kanye previously claimed that Floyd died from a fentanyl overdose not police brutality. His remarks led to the family suing him for approximately R4-billion. He later apologised for his remarks.
Last year, Adidas stopped its partnership with Kanye West following antisemitism comments he made on social media.
READ more about that story: Adidas cuts ties with Kanye West over anti-semitic remarks.