Sun. Jun 23rd, 2024

Adidas Sells More Yeezys After Breakup

By knl9j Feb27,2024
Adidas Sells More Yeezys After Breakup

A FILE – Kickclusive, a sneaker resale store, in Paramus, New Jersey, on October 25, 2022, displays a sign that advertises Yeezy shoes that were manufactured by Adidas. Following the termination of its relationship with Ye, the musician formerly known as Kanye West, Adidas said on Monday, February 26, 2024, that it has begun a third sale of the Yeezy sneakers that it had been left with when the two parties severed their ties.(Image courtesy of Seth Wenig, Associated Press)

FRANKFURT, Germany (Associated Press) — Following the termination of its relationship with Ye, the musician formerly known as Kanye West, Adidas announced on Monday that it had begun a third sale of the Yeezy sneakers that it had been left with after the two parties severed their ties.

In conjunction with the sales, the corporation has made contributions to organizations that are working to combat antisemitism and other forms of hatred.

In October of 2022, Adidas severed its relationship with Ye due to the antisemitic and other hateful comments he had made. It has been looking for a solution to dispose of shoes worth 1.2 billion euros that have not been sold in a responsible manner. According to the company, it intends to release the remaining inventory of Yeezy sneakers sometime during the course of this year.

According to the corporation, the most recent release was made available on digital platforms on Monday. When it comes to the range of products that will be offered, Adidas has stated that some of its most popular designs will be among those that are available.

The two Yeezy releases that Adidas released in 2022 brought in 1.2 billion euros in income, but in 2023, they brought in only 750 million euros, which is equivalent to $813 million.

It took the company several months to find a solution to the problem. There was no possibility of burning the shoes; nevertheless, restitching them in order to conceal the brand was deemed dishonest; and giving them away could have resulted in the creation of a market for resale. It made the decision to sell them instead, and a portion of the revenues would be donated.

Adidas has contributed to the Anti-Defamation League as well as the Philonise & Keeta Floyd Institute for Social Change. The latter is an organization that is led by Philonise Floyd, who is an advocate for social justice and is also the brother of George Floyd.

In North America, shoes that were sold directly by Adidas included blue square pins that were established by Robert Kraft’s Foundation to Combat Anti-Semitism. These pins served as a symbol of unity in the fight against antisemitism for everyone.

All rights reserved by The Associated Press, 2024. The owner retains all rights. It is strictly forbidden to print, broadcast, rewrite, or disseminate any parts of this material.

By knl9j

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