Adidas has announced a further release of its YEEZY product line, initiating another phase in the sale of its existing inventory worldwide. This move comes as part of the company’s strategy to liquidate its remaining stock of YEEZY sneakers following the end of its partnership Ye, due to his controversial antisemitic comments.
SNEAKERS
The German sportswear giant will start this phase by offering the “Steel Grey” Yeezy Boost 350 V2 at a price of $230 per pair. These sneakers, along with other YEEZY products from the 2022 collection, will be sold exclusively through Adidas’s digital platforms, including the CONFIRMED app, the Adidas app, and adidas.com. The releases are scheduled to take place in phases over the coming weeks to ensure a premium and fair purchasing experience for consumers globally, with availability and timing varying by location.
This series of releases marks the third occasion Adidas has sold YEEZY sneakers since disbanding its partnership with Ye in October 2022. The company had been left with over $1 billion worth of unsold YEEZY inventory following the split. Despite the controversy, previous YEEZY sales have proven financially significant for Adidas, with the company reporting $813 million in revenue from two YEEZY releases last year, a decrease from $1.3 billion in 2022.
In response to the backlash and to mitigate the impact of profiting from its association with Ye, Adidas has committed to donating a portion of the proceeds from the YEEZY sales to organizations fighting antisemitism and other forms of hate. This initiative aligns with Adidas’s efforts to address discrimination and promote inclusivity, following its termination of the YEEZY partnership due to Ye’s discriminatory remarks and behavior.
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In a recent Instagram post, Ye expressed his frustration over Adidas’s decision to release YEEZY products without his involvement. He criticized the sale of what he termed “fake Yeezys,” stating that he did not create these colorways and is not profiting from their sale. Additionally, Ye highlighted the ongoing legal battle with Adidas, accusing the company of exploiting his work without compensation. He also addressed his personal struggles, including issues related to his children and financial challenges, questioning the public and industry’s response to his situation. Ye’s post underscores his discontent with how Adidas is handling the YEEZY inventory, calling for action against what he perceives as injustice.
Ye’s relationship with the public and various business entities deteriorated after a series of public outbursts and controversial statements, including antisemitic rants on social media and in public appearances. His comments led to the cessation of several business deals, including collaborations with Gap, Balenciaga, and JPMorgan Chase. Adidas’s decision to end its partnership with Ye and sell off the remaining YEEZY inventory reflects the company’s stance against hate speech and discrimination, while also navigating the financial implications of the breakup.
Adidas CEO Bjørn Gulden previously faced criticism for comments suggesting doubt that Ye meant his offensive remarks, for which Gulden later apologized. As Adidas moves forward with the sale of YEEZY products, the company aims to balance its financial objectives with its commitment to social responsibility and ethical business practices.
