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adidas announces plans to sell remaining Yeezys

May 12, 2023 4:25 PM
adidas announces plans to sell remaining Yeezys

Since March 2023, adidas has been faced with a major dilemma: what to do with $1.3 billion worth of unsold Yeezy sneakers? With various options on the table from burning them to removing the Yeezy logo, giving them away, or selling them anyway, adidas decided in May 2023 to go with the latter. The brand will sell the remaining Yeezys, with a portion of the proceeds being donated to charity.

During the shareholder meeting, CEO Bjørn Gulden officially announced that the company plans to sell the remaining Yeezys. This decision follows the split with Ye, caused by the rapper's anti-Semitic remarks in 2022.

However, Ye will also benefit from this decision. He reportedly receives a commission of around 15 percent on each pair sold. This was one of the reasons why adidas was initially reluctant to sell the remaining sneakers.

The possibility of burning the sneakers was reconsidered, but CEO Gulden said, "Burning millions of pairs doesn't make sense." In addition, complete donation of the sneakers was not an option, as they would quickly reappear on the market due to their high market value.

Lastly, Gulden confirmed that a portion of the proceeds will go to charity. These charities represent people who may have been negatively affected by Ye's controversial comments.

At this time, there is no information available about the sale of the remaining Yeezys. If you would like to stay up to date on the latest developments surrounding the sneakers, keep an eye on our news page, where we will be the first to inform you. What do you think of the solution to sell the Yeezys anyway?