Adidas kicks up new plans for Yeezy and Kanye West won't like them
Herzogenaurach, Germany - Adidas is apparently planning on selling their leftover stock of Yeezy products, and donating the proceeds to a cause that probably won't make Kanye West too happy.
Adidas held its annual shareholders meeting on Thursday.
According to The Washington Post, CEO Björn Gulden shared that the fashion company has been trying to figure out what to do with the over $1.3 billion worth of Yeezy shoes they have left over from their broken partnership with West, adding, "burning the goods would not be a solution."
Luckily, they came up with a creative one.
"What we are trying to do over time is to sell parts of these goods and then donate to organizations that help us, and that also have been hurt by Kanye's statements," Gulden explained.
The company has taken a big financial hit for their decision, reporting a fourth-quarter net loss of more than $500 million back in March.
"I can promise you that the people that have been hurt by this will also get something good out of it, and get donations and proceeds in different ways, shapes, or forms," Gulden added in his speech.
Fortunately for Kanye, who recently lost his billionaire status after his remarks, he is entitled to a 15% commission on the sales of any Yeezy products by Adidas.
Cover photo: Collage: IMAGO / ZUMA Wire & JULIEN DE ROSA v AFP