{"id":9323,"date":"2023-05-11T19:41:46","date_gmt":"2023-05-11T19:41:46","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/adidas-to-sell-remaining-yeezy-stock-and-donate-proceeds-to-charity\/"},"modified":"2023-05-11T19:41:46","modified_gmt":"2023-05-11T19:41:46","slug":"adidas-to-sell-remaining-yeezy-stock-and-donate-proceeds-to-charity","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/adidas-to-sell-remaining-yeezy-stock-and-donate-proceeds-to-charity\/","title":{"rendered":"Adidas to sell remaining Yeezy stock and donate proceeds to charity"},"content":{"rendered":"

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\"Adidas\"<\/div>\n
\/\/<\/span> Adidas will try to sell part of the Yeezy stock and donate proceeds to charities<\/h6>\n
\/\/\u00a0<\/span>The sportswear giant stopped selling Yeezy shoes in October after it cut ties with rapper Ye following his antisemitic remarks<\/h6>\n\n

Adidas will sell some of the products from its ill-fated Yeezy partnership with Kanye West and donate the proceeds to charity.<\/p>\n

Chief executive Bj\u00f6rn Gulden told shareholders on Thursday the sportswear giant is currently sitting on more than \u20ac1bn (\u00a3867m) worth of stock.<\/p>\n

He said the group had decided against destroying the shoes and instead will donate the profit from the sales to charities representing people who \u201cwere hurt\u201d by West\u2019s antisemitic remarks.<\/p>\n\n

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\u201cBurning several million pairs [of shoes] does not make sense,\u201d he told investors.<\/p>\n

The retailer stopped selling Yeezy shoes in October after ending its nine-year relationship with Ye, formerly known as Kanye West, following several racist comments.<\/p>\n

Adidas has been under pressure from investors over its partnership with Ye and its handling of misconduct allegations against West.<\/p>\n

The fallout from terminating the collaboration saw Adidas profits slip 1% to \u00a39.45bn in the year to 31 December 2022.<\/p>\n

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