Adidas has made an announcement stating that they will be selling some of the remaining inventory of Adidas YEEZY products. The sale will begin at the end of May 2023 and will include a range of existing designs. These products will be exclusively available through adidas.com/yeezy and the adidas CONFIRMED app. In addition, a significant amount of inventory will be donated to organizations dedicated to combating discrimination and hate, such as racism and antisemitism. Among these organizations are the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change.
This release is significant because it marks the first time consumers will have access to YEEZY products since the partnership between Adidas and YEEZY was terminated in October 2022. The available inventory will consist of existing designs as well as designs that were initiated in 2022 for sale in 2023. Adidas is also considering the possibility of future releases of existing inventory, but the timing has yet to be determined. It is important to note that this announcement does not have an immediate impact on Adidas’ financial guidance for 2023.
Since ending the YEEZY partnership, Adidas has been exploring various options for the remaining YEEZY inventory. They have actively sought feedback from a diverse group of stakeholders, including employees, organizations, communities, and consumers, to responsibly manage the existing product. After the partnership was terminated, Adidas fulfilled committed production orders to avoid negative consequences for their supply chain partners.
According to Adidas CEO Bjørn Gulden, they have carefully considered their options and decided to begin selling some of the remaining Adidas YEEZY products. Selling and donating the inventory was the preferred choice among all the organizations and stakeholders they consulted. This solution respects the designs and shoes that have been created, supports their workforce, resolves an inventory issue, and will have a positive impact on communities. Gulden emphasized that there is no place for any form of hate in sport or society, and Adidas remains committed to fighting against it.
Jonathan A. Greenblatt, CEO of the Anti-Defamation League (ADL), expressed appreciation for Adidas’ response to the situation. He commended their thoughtful engagement with community organizations working to combat antisemitism and other forms of hatred. Greenblatt also praised Adidas’ support for education and other initiatives, considering their leadership as exemplary and a model for other public companies to follow.
Adidas will be partnering with the Philonise & Keeta Floyd Institute for Social Change, which is led by Philonise Floyd, brother of George Floyd. Through this partnership, they will work together to drive community programs using sports and education to create a lasting legacy.
