Kanye West has made a number of pointed statements throughout his career, though he truly courted controversy near the end of 2022 after he made antisemitic statements during a podcast appearance. The Grammy winner faced a significant wave of backlash and, as part of that, he lost his business deal with Adidas, which doubled down on its decision. However, in the aftermath, the brand was left with countless pairs of unused Yeezy products. During this time, hundreds of companies have apparently also made offers to buy the merchandise. However, it would seem that the German sportswear company has decided on a way to handle the items, and it’ll seek to combat anti-Semitism in the process.
How Badly Have Companies Been Trying To Buy Leftover Yeezys?
Even now, Ye remains a heavily scrutinized individual, but it would seem that the brand he started with Adidas is still widely popular and lucrative. So much so that more than 500 offers have been made for the Yeezy shoes that the conglomerate still possesses. This information comes from CEO Bjørn Gulden, who spoke about the situation with CNN Business. Though there was plenty of interest from outside parties, Gulden didn’t actually seem all that keen on making a deal, believe it or not. Apparently, he’d just prefer to get rid of the stock entirely, whether the company makes money from them or not.
He believes that there’s a “reputational risk” that comes with holding onto the kicks, which is one of the reasons why he’s so eager to dump them. However, the exec realizes that there are certain methods of disposal he and his colleagues absolutely can’t use. For instance, they wouldn’t seek to outright destroy the products, as that would present a “sustainability issue.” What’s also been driving his thinking on the matter is the fact that these “are not normal shoes” and, as such, they should be handled in a certain way.
Another possible course of action Bjørn Gulden mentioned was possibly selling them and donating a sum of the profits. This is something that a number of companies have done in certain cases, and it seems the athletic gear conglomerate is taking a cue in that regard.
How Adidas Is Apparently Working To Combat Anti-Semitism
It was recently announced by Adidas that the remaining Yeezy products will start being sold on May 31. And with that, a significant amount of the proceeds will go to a number of noted organizations. One of the most prominent entities to receive a share is the Anti-Defamation League. Upon the major announcement, In a statement shared as part of the press release, Bjørn Gulden called this the “best solution” for the situation and reiterated that “there is no place in sport or society for hate of any kind.” ADL head Jonathan A. Greenblatt also spoke out and commended the brand for its course of action:
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. 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 Philonise & Keeta Floyd Institute for Social Change – which was founded by the mother of the late George Floyd – will also benefit from the sales. The Floyd family notably filed a $250 million lawsuit against Ye, Candace Owens and more due to falsehoods made about Floyd’s death in 2020.
This seems to be a positive step for the company, and it could benefit from it greatly. It’s no secret that the clothing giant has suffered greatly since dropping Kanye West. Adidas reportedly lost over $1 billion due to the deal’s dissolution and, as a result, it received a steep downgrade in the stock market index. Interestingly enough, the demand for Yeezys has been at an all-time high, though the company isn’t getting a boost from that due to the sales being made by online retailers.
So considering the continued popularity of the shoe line, Adidas could still make out well in this situation even with some of the profits being donated. The financial elements of this aside though, it’s just good to see that the money is being put to use in a positive way.
