Adidas is not going to destroy the unsold Yeezy trainers it is saddled with after an aborted partnership with Kanye West after all, but will sell them and donate the proceeds to charity.
Destroying is not an option
Some 1.2 billion euros’ worth of Yeezy trainers lie waiting in Adidas’ warehouses. The trainer manufacturer was forced to terminate a partnership with Ye (rapper Kayne West) after anti-Semitic and racist statements by the artist and does not want to simply market the shoes. But destroying them is not a sustainable option either.
At the company’s shareholder meeting last Thursday, CEO Bjørn Gulden said he now plans to sell the products anyway, reports The Guardian. When and how he plans to do so, he could not yet say.
Ye still receives commission
Adidas would like to donate part of the proceeds to organisations representing groups hurt by Ye’s statements. The remaining revenue would allow the trainer manufacturer to limit its financial losses: the depreciation cost of the unsold trainers was estimated at 700 million euros.
Noteworthy – and also a little embarrassing for Adidas – however, is the observation that Ye would still receive a 15% commission on sales when selling these products.