Adidas has announced that it will be donating the proceeds from sales of the surplus of Yeezy sneakers to the Anti-Defamation League as well as the Philonise & Keeta Floyd Institute for Social Change. CEO Bjørn Gulden revealed the company's decision in a press release on Friday. The company has more than $1 billion worth of leftover Yeezy sneakers.
"After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products," Gulden said in a press release. He further explained: "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. There is no place in sport or society for hate of any kind and we remain committed to fighting against it."
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"At a time when antisemitism has reached historic levels in the U.S. and is rising globally, we appreciate how adidas turned a negative situation into a very positive outcome," ADL CEO Jonathan A. Greenblatt added in the statement. "They have shown real thoughtfulness in engaging with community organizations working to combat this pernicious and stubborn hatred. Their leadership, in not only condemning anti-Jewish hate but lending their support for education and other initiatives, is exemplary and a model for other public companies to emulate. We thank them for their ongoing dialogue around their remaining inventory and their vested interest in tackling issues of prejudice and hate."
The decision comes after Adidas cut off ties with Kanye West. During a Drink Champs interview in October 2022, West falsely claimed that George Floyd died because of fentanyl and not from Minneapolis police officer Derek Chauvin placing his knee on his neck. He also made antisemitic remarks many times throughout the year.
[Via]