adidas To Sell Its Yeezy Products & Donate The Money To Charity
Written by djfrosty on May 15, 2023
Source: Kanye West Purchases Second City In Wyoming To Bring Yeezy Production / Kanye West Purchases Second City In Wyoming To Bring Yeezy Production To The US
The adidas/Yeezy quagmire has finally found a solution. The three-stripe brand has finally decided it will sell it’s $1.3 billion worth of Yeezy apparel that it recalled after Yeezus went on an antisemitic crusade a few months back.
According to Hypebeast, adidas and Kanye West have come to an agreement to sell all the sneakers and apparel that adidas recalled from the shelves of sneaker stores across the board. And to avoid any kind of backlash from the decision, adidas will donate all the money they get to charity. Kanye, meanwhile will keep the 15% commission he’s entitled from every sale made from the Yeezy line (of course he will).
After months of speculation of what adidas would do with the remaining pairs of Yeezy sneakers it had in storage, rumors had began swirling that they’d do everything from give them away to incinerate them, to quietly move them on resale websites to make their money back and then some. But now we’ve finally gotten a concrete answer. They’ll just basically sell them for charity.
Hypebeast reports:
At the time of writing, it’s still unclear how much stock will be released to the market, what exact models and colorways will be launched and how it will drop (CONFRIMED App, online stores or wholesale retailers) as well as how much of the proceeds will be donated. “What we are trying to do now over time is to sell some of this merchandise…burning the goods would not be a solution,” Bjørn Gulden, CEO of adidas commented. The sportswear imprint pondered about donating all of the sneakers but felt that it would lead to them reaching the market in a volatile way.
It’s still going to reach the secondary market either way, but the question is what kind of resale value Yeezy’s will carry given the nature of Kanye West’s “canceling” in pop culture. After Kanye West’s deal with adidas was voided a few months ago, many expected resale prices for his Yeezy line to skyrocket, as they weren’t going to be sold or produced anymore. They didn’t. They experienced a slight bump in resale value but nothing remotely close to say a pair of Travis Scott x Air Jordan 1’s.
Now that we’ll be getting whatever stock is left, who knows if resale prices will rise or plummet in the wake of the new selloff. Either way, some charity out there will be more than glad to accept whatever monetary donation they get from adidas. And we can’t be mad at that.
What do y’all think of adidas deciding to sell their Yeezy stock and giving a portion to charity? Let us know in the comments section below.