Article: adidas Gets To Work Selling Remaining YEEZY Stock
adidas Gets To Work Selling Remaining YEEZY Stock
Following a tumultuous few months, adidas cut ties with Ye last October in response to the rapper's antisemitic comments, bringing an immediate end to a collaboration that once offered collectors models like the YEEZY 350 and the YEEZY 500.
This parting of ways was one that came at no small cost for the German sportswear giant, leaving it with a reported £1bn worth of YEEZY stock in storage, and contributing to its first annual loss in over 30 years. Adding insult to injury, the brand is currently being sued by its own stakeholders, who accuse adidas of having known about Kanye's problematic views for several years prior to the dramatic split.
A crisis of finances and sustainability in equal measure, adidas' remaining YEEZY inventory has been the source of much conversation - with industry spectators wondering if the shoes in question might be burned, donated to charity or relaunched under a different brand name.
Instead, The Three Stripes' chief exec Bjoern Gulden revealed the outline of a more complex resolution at the company's recent annual shareholder meeting. After defending the decision to work with Ye (who he described as 'the most creative mind in our industry'), Gulden revealed plans to sell some of the surplus merchandise, with a proportion of revenue being donated to those hurt by Kanye's actions. Specifically, the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, run by the brother of George Floyd.
The finer details remain unclear: how many YEEZYs will eventually be available for purchase, for example? And exactly how much money does Kanye stand to make from this? Rightly or wrongly, he is entitled to a cut under the terms of the partnership, an aspect that adidas has declined to comment on.
Last week, adidas dropped the first batch of its remaining YEEZYs via its 'Confirmed' app, marking the first time the product has been directly sold by the brand since October. Various colourways of the YEEZY Boost 350 v2 are available to buy now, and draws are open for the YEEZY Boost 380 and 700 v2, among others.
As far as collectors are concerned, the YEEZY revival offers a final chance to secure the pairs missing from their rotations while dodging resale prices (although a comprehensive list of models is yet to be confirmed). It's good news for sneakerheads, and good news for adidas too, whose shares were up 2% following the meeting.
Keep a close eye on our socials for adidas YEEZY news as and when it develops. And in the meantime, get busy compiling your YEEZY wishlist for the final time.