Adidas has resumed selling its unsold Yeezy footwear inventory and plans to shed the remainder throughout May 2023.
The German sportswear company announces that it will sell the collection exclusively through the Adidas Yeezy website. “A significant amount will be donated to selected organizations working to combat discrimination and hate, including racism and anti-Semitism. These include the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change, among others,” the press release announcing the sale said.
This marks the first time Adidas Yeezy products have become available for purchase since the company ended its partnership with the rapper in October 2022. The products for sale are existing designs and designs initiated in 2022 for sale in 2023. “Additional publications of existing ones.” “Today’s announcement has no immediate impact on the Company’s current 2023 financial guidance.”
Adidas says it explored several options when considering what to do with the unsold stock. “The process involved gathering feedback and listening to a diverse group of employees, organizations, communities and consumers to learn how to responsibly manage the existing product. After the partnership ended, the company continued with production orders that had already been promised. This was done to protect its supply chain partners from negative impacts from cancellations,” Adidas continues.
“After careful consideration, we have decided to start releasing some of the remaining Adidas Yeezy products,” said CEO Bjørn Gulden says. “Selling and donating was the preferred option for every organization and advocacy group we spoke to. We believe this is the best solution because it respects the designs designed and shoes produced, works for our employees, solves an inventory problem and will have a positive impact on our communities. Hate of any kind has no place in sport and society and we continue to fight against it.”