Source: Edward Berthelot / Getty
The German sportswear brand previously reported that it had $1.3 billion in Yeezy products sitting around that it couldn’t unload because of the dissolved partnership with
Kanye West over his antisemitic remarks.
Now, instead of taking a massive loss and disappointing its stockholders and its earning report having glaring numbers, adidas will partner with West to unload the clothes and sneakers.
At an investors conference Thursday, adidas CEO Bjørn Gulden said the company’s new goal would be to sell much of it.
“What we are trying to do now over time is to sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements,” Gulden
said, according to CNN.
Since ending its relationship with West, adidas thought of many options for unloading the products and even considered destroying them.
“Burning the goods would not be a solution,” Gulden added.
According to Hypebeast,
selling off the remaining stock will also benefit Ye, as he’s still set to receive 15% of all profits under his adidas contract.
Gulden revealed that adidas is still sorting out the logistics of the deal, but for fans of the Yeezy line, it’s great news that they’ll have a chance to cop more of the clothes and sneakers.
“When we will do that and how we will do that is not clear yet, but we are working on those things,” Gulden added.
Investors will also be happy to hear about the about-face as they’re currently
embroiled in a lawsuit accusing adidas of not warning them of West’s “extreme behavior” despite us all witnessing his often erratic behavior for much of his career.
See how social media’s reacting to Kanye and adidas reconnecting to sell off the remaining Yeezy merch below.
