As Adidas tries to salvage all of the Yeezy inventory it has left after separating from Kanye West in 2022.
Most recently Adidas has been talking about new ways to engage the brand without Ye, even as its shareholders are looking to sue over allegations, they were left out of the dark on how bad the relationship between parties had broken down.
Now, according to the Straits Times, Bjorn Guldren, the chief executive, has announced on Thursday, May 11 at the company’s annual general meeting, when it resumes selling merchandise from the Yeezy line, the proceeds will be donated to a variety of international organizations that fight against antisemitism and other forms of hate.
“We are working on these things. Burning the goods would not be a solution,” Mr. Gulden said.
These donations will be in addition to the $1.3 million the brand shelled out in November to the Anti-Defamation League, an international Jewish non-governmental organization based in New York.
The ADL is all for this idea, saying, it “stands ready and prepared to work with Adidas.”
While it seems to be an altruistic effort, this too comes down to dollars and sense (oops cents).
If the company did not sell Yeezy sneakers and apparel, the company is poised to lose $1.7 billion in revenue.
Already, the company dropped substantially when Kanye made his comments, and then when his fans stopped supporting the brand when he was let go.