Adidas will start selling a large stock of products from the Yeezy line at the end of May, a once very lucrative partnership with Kanye ‘Ye’ West. The stock is sold in phases, with a ‘considerable amount’ of the proceeds going to charities.
The German brand broke off cooperation with West at the end of October after anti-Semitic statements by the rapper. Adidas was left with a huge stock of Yeezys, mainly sneakers, worth 1.2 billion euros. Last week, the group announced that it would still sell the products, but would donate part of the proceeds to charities.
On Friday, Adidas announced that it has chosen, among others, the Anti-Defamation League, a Jewish organization that fights anti-Semitism, and the Philonise and Keeta Floyd Institute for Social Change, an institution run by the brother of George Floyd and fights against systemic racism in the US.
According to American media, West is still entitled to 15 percent of the sales of the Yeezy line. Adidas did not want to respond to questions about this from Reuters news agency on Friday.
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