- Adidas will sell another collection of Yeezy trainers with a portion of proceeds benefiting charity.
- However, the company has not disclosed the specific amount that will be donated.
- The move comes after the brand ended its collaboration with rapper Kanye West, resulting in unsold trainers and financial losses.
- The sale is expected to include popular models like Yeezy Boost 350 V2 and Foam RNR.
- Charities benefiting from the donations include the Anti-Defamation League and Philonese and Keeta Floyd Institute for Social Change.
Adidas has announced plans to promote another batch of its Yeezy trainer line, with a portion of the proceeds set to be donated to charity. The German sports brand faced financial challenges after severing ties with rapper Kanye West due to his antisemitic comments. This decision resulted in unsold trainers worth €1.2bn and the company’s first annual loss in over 30 years.
Adidas launched a sale in May with some profits earmarked for charity, and they are set to do the same again with an online sale starting this Wednesday. However, the company has not disclosed the exact amount to be donated.
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While Adidas did not reveal the specific charities, they communicated with US-based organizations, including the Anti-Defamation League and the Philonese and Keeta Floyd Institute for Social Change. The sale will feature popular models like the Yeezy Boost 350 V2 and the Foam RNR.
Adidas is also taking steps to symbolize its rejection of antisemitism by including blue square pins with footwear sold in North America. When asked if Kanye West would receive royalties from the sales, the company stated it will fulfill contractual obligations without providing further details.
Despite the charitable efforts, the brand still reported a loss of €450m this year, compared to €700m in profits in the past. The upcoming sale is expected to contribute to the company’s ongoing efforts to improve its financial results.