Adidas Concludes Sale of Yeezy Sneakers, Pledges Proceeds to Fight Anti-Semitism

Adidas has finalized the sale of its remaining Yeezy sneakers, initiated after severing ties with Ye (Kanye West) over his anti-Semitic comments. The company announced that substantial proceeds, amounting to 260 million euros, will go to organizations combating anti-Semitism, marking an end to this challenging chapter.

Adidas has completed the sell-off of its remaining Yeezy sneakers in the fourth quarter, officially closing the chapter on its partnership with rapper Ye, formerly Kanye West. The sportswear company's decision stems from Ye's public anti-Semitic remarks made last year, which significantly impacted Adidas' revenue and resulted in an annual loss for 2023.

According to Adidas, the absence of Yeezy sales struck a notable blow to its North American market, where it reported a 2% decrease in sales for 2024. Starting in May 2023, the company began liquidating Yeezy stock, committing a portion of proceeds to organizations, like the Anti-Defamation League, dedicated to fighting anti-Semitism.

Financial reports revealed Adidas sold 650 million euros worth of Yeezy sneakers in the previous year, earning a profit of 200 million euros, down from the prior year. CEO Bjorn Gulden confirmed that 260 million euros have been allotted to charity, with 60 million euros already distributed. As part of its commitment, 200 million euros remain in an Adidas-founded foundation.

(With inputs from agencies.)