In an inspiring move, Adidas recently announced its plan to sell some of the remaining shoes from its canceled Yeezy collaboration with rapper Kanye West at the end of May. What makes this release even more impactful is that a portion of the sales will be donated to organizations dedicated to combating racism and anti-Semitism.
Adidas cut ties with Kanye West, also known as Ye, in October following a series of antisemitic remarks he made in interviews and on social media. The decision came at a significant cost to the German sportswear manufacturer, with the remaining pair of Yeezy trainers amounting to a staggering 1.2 billion euros ($1.3 billion).
While Adidas did not disclose the exact amount of the donation, they emphasized that a “significant” portion of the sales would be allocated to fight systemic racism in the United States. Among the beneficiaries are notable organizations such as the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, which is spearheaded by George Floyd’s brother.
Adidas CEO Bjoern Gulden expressed that this solution not only respects the original designs and production of the shoes but also benefits Adidas employees and creates a positive impact in communities. The reintroduction of Yeezy product sales marks a crucial moment for Adidas, as it signals their commitment to profitability following the previous profit warnings.
Since their partnership ended in October, the value of Yeezy shoes has soared on the resale market, with some models more than doubling in price. While Adidas did not explicitly state its intention to dominate the shoe market after the sale, its decision to release additional Yeezy stock remains a possibility, with timing yet to be determined. The announcement, however, does not immediately impact the group’s outlook for 2023.
Adidas has already established a relationship with the Anti-Defamation League, having donated $1 million to the organization in November. Jonathan Greenblatt, CEO of the Anti-Defamation League, acknowledged the positive outcome of turning a negative situation into a force for good, especially when antisemitism has reached alarming levels in the US and globally.
The Philonise & Keeta Floyd Institute for Social Change, however, has not yet responded to inquiries regarding Adidas’ expected donation. Furthermore, Adidas has extended an invitation to other organizations to propose projects aimed at combatting discrimination and hate through sports, further emphasizing their commitment to fostering positive change.
Adidas’ decision to donate a portion of the Yeezy sales to anti-racism and anti-Semitism organizations not only demonstrates their dedication to corporate responsibility but also serves as an inspiration for other companies to use challenging situations as catalysts for transformative change.
