Last Updated: May 12, 2023, 01:13 IST
Adidas halted its tie-up with West — now identified formally as Ye — in October after he made a sequence of anti-Semitic outbursts. (Picture for illustration/AFP)
The merchandise has been in limbo since Adidas ended its partnership with the controversial rapper
Adidas will promote a minimum of half of its large stock of Kanye West’s Yeezy merchandise and donate the proceeds, the German sportswear group’s boss stated Thursday.
The merchandise has been in limbo since Adidas ended its partnership with the controversial rapper.
The firm’s CEO Bjorn Guden instructed shareholders at an annual basic assembly that “burning the products is just not the answer”.
“What we will try to do over time is to sell part of these goods and to donate the money to organisations that help us and which also have been hurt by Kanye’s statements,” he stated.
“When we’ll try this and the way we’ll do that’s not clear however we’re engaged on it,” he added.
Adidas halted its tie-up with West — now known formally as Ye — in October after he made a series of anti-Semitic outbursts.
As a end result, the group ended manufacturing of the extremely profitable Yeezy line designed along with West.
Potentially not selling the apparel and shoes linked to West would lead to a revenue loss of 1.2 billion euros ($1.3 billion), the group said when it announced its 2022 full-year results earlier this week.
(This story has not been edited by News18 workers and is printed from a syndicated information company feed)
