Adidas Pledges Yeezy Proceeds to Anti-Hate Organizations Following Split with Kanye West
In the aftermath of its 2022 split from Kanye West, Adidas is formulating strategies to manage its remaining Yeezy inventory.
Recently, the sportswear giant has been exploring innovative methods to promote the brand without West’s involvement. This development comes amid potential legal action from shareholders, alleging that they were kept uninformed about the extent of the deterioration in the relationship between Adidas and West.
According to a report in the Straits Times, Bjorn Gulden, the CEO of Adidas, disclosed at the company’s annual general meeting on Thursday, May 11, that proceeds from future sales of Yeezy merchandise will be donated to several international organizations committed to combating antisemitism and other forms of hate.
“We are working on these things. Burning the goods would not be a solution,” Gulden remarked.
These donations will be on top of the $1.3 million that Adidas contributed to the Anti-Defamation League (ADL), an international Jewish non-governmental organization based in New York, last November.
The ADL voiced its support for this initiative, stating it “stands ready and prepared to work with Adidas.”
While this move may appear altruistic, it is also a financially strategic decision. If Adidas were not to sell the Yeezy products, it risks a revenue loss of $1.7 billion.
The brand has already taken a substantial hit, first when West made controversial remarks, and then when his fanbase withdrew its support following his departure.
