Kanye: Adidas To Donate Yeezy Proceeds To George Floyd’s Family Foundation
Kanye’s Yeezys are going to a good cause. Adidas announced that a portion of the sales from the leftover Yeezy stock would be donated to Philonise & Keeta Floyd Institute for Social Change. The other part of the proceeds will be donated to the Anti-Defamation League.
Adidas CEO Bjørn Gulden made the announcement in a press release. “After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products. Selling and donating was the preferred option among all organizations and stakeholders we spoke to.”
“We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”
“At a time when antisemitism has reached historic levels in the U.S. and is rising globally, we appreciate how Adidas turned a negative situation into a very positive outcome. They have shown real thoughtfulness in engaging with community organizations working to combat this pernicious and stubborn hatred,” added Jonathan A. Greenblatt, ADL CEO.
“Their leadership, in not only condemning anti-Jewish hate but lending their support for education and other initiatives, is exemplary and a model for other public companies to emulate. We thank them for their ongoing dialogue around their remaining inventory and their vested interest in tackling issues of prejudice and hate.”
Both organizations were affected by Kanye’s rants last year. The Grammy-winning artist attacked the Jewish community multiple times with his anti-Semitic comments and later spread disinformation about the murder of George Floyd on a since-deleted Drink Champs episode.
The sportswear company parted ways with the rapper in October.
“Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness,” the statement reads. “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.”
The split left Adidas with inventory levels of $500 million worth of sneakers, with a selling value of over $1 billion, according to the company.