Adidas to Resell Yeezy Sneakers and Donate Proceeds.
TL;DR Summary
Adidas has announced plans to sell the remaining stock of Yeezy shoes following the brand's split from founder Kanye West. The German sportswear company will donate a portion of the proceeds to charity, with West entitled to 15% of all sales. Adidas had considered destroying the unsold Yeezys, but ruled it out due to sustainability concerns. The decision to sell the remaining products is a financial one, with Adidas having suffered losses of $1.3 billion in Q4 2020 due to the loss of Yeezy revenue.
- Adidas Plans to Resell Remaining Yeezy Sneakers Hollywood Reporter
- Adidas to sell Yeezy shoes and donate proceeds months after Kanye West split WGN News
- Yeezy stockpile: Adidas will sell Ye-designed shoes and donate proceeds NPR
- Adidas will sell Yeezy shoes and donate proceeds, CEO says The Washington Post
- Adidas will sell some leftover Yeezy inventory instead of burning it, CEO says CNBC
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