It's the beginning of the end of Adidas's business relationship with the rapper formerly known as Kanye West.
This week, the German shoemaker began selling the first batch of the more than $1 billion in sneakers under the Yeezy brand about eight months after the company cut ties with Ye.
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Sneakerheads who want a piece of the last vestiges of the popular Yeezy brand have to register through a specific app called "Confirmed" and enter a drawing before gaining the privilege of paying for the sneakers.
More than a dozen versions of the Yeezy line went on sale starting Wednesday with Adidas announcing that a "portion" of the proceeds from the sala will be "donated in support of the fight against discrimination, hate, racism and antisemitism."
Adidas (ADDDF) cut ties with the rapper after he went on numerous tirades, some of which verbally attacked Jewish people.
Earlier in May, Adidas announced that the loss of the Yeezy brand cost the company $441 million in sales and that it had $1.3 billion worth of unsold Yeezy stock that it wasn't sure what do with.
"When it gets to the Yeezy, there is nothing else to say than what we said last time. We are working on different options. The new thing is now that all the inventory is now on our books," new CEO Bjorn Gulden said.
"Most of the inventory are in the right warehouses and that we could theoretically sell product if and when and how is still in the evaluation."
Four weeks later the company has decided to sell the product and, under terms of their contract, pay royalties to Ye.
It is not clear what percentage of the proceeds will go to charity and Adidas did not immediately return a request for comment on the matter.
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