Adidas announced that they will be selling their leftover Yeezy inventory instead of burning it. The money from the shoes will be donated to charities that were harmed by Ye’s anti-Semitic comments, said the company’s CEO, per CNN. The CEO, Bjorn Gulden, did not disclose what specific charities the company will donate to.
“When we do that and how we do that, remains to be seen but we’re working on that,” he said.
At one point, the company considered burning the merchandise. “Burning the shoes cannot be the solution,” Gulden said. The option was later changed after he spoke to various NGOs and the learning about the environmental damage burning the merchandise would cause.
After Ye’s antisemitic remarks, Adidas dropped the rap mogul. Gulden stands by the company’s decision. “He is a difficult person, but he’s arguably the most creative person in our industry,” he said. “He created a model with Adidas that was sought after around the world,” he added.
The company parted ways with Ye in October.
“Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness,” the statement reads. “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.”
The split left Adidas with inventory levels of $500 million worth of sneakers, with a selling value of over $1 billion, according to the company.