Adidas is finally tackling the Yeezy drama head-on with the decision to sell its remaining stock.
After a series of public spectacles, including a slew of antisemitic remarks, the sportswear retailer cut ties with rapper and designer Kanye West, who now goes by the name Ye.
Several businesses that were partnered with Ye at the time, including Balenciaga and FootLocker, also publicly ended partnerships with the celebrity to distance themselves from his controversial behavior.
However, Adidas may have been the company with the most to lose.
It was estimated that the company stood to lose approximately $770 million due to unsold Yeezy stock while forgoing $1.3 billion of revenue if 2023 if the inventory remains unsold.
Adidas CEO Bjørn Gulden confirmed at an annual shareholder meeting in May that the company would take the route of attempting to sell its remaining Yeezy stock after all, despite concerns about how to handle reputation management following Ye's PR scandal.
Gulden stated that Adidas will "sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements."
The Yeezy shoes finally landed on the Adidas website for sale days ago, with wider rollouts scheduled throughout the month.
Despite part of the profits being donated to charitable organizations, it is important to note that the rapper and designer will also be gaining 15% royalties from the sales.
Considering the great success of prior Yeezy sales, it would not be surprising to see these items flying off the shelves soon enough.
Edited by Nikola Djuric
