After adidas cut ties with Kanye West back in June due to anti-semitic comments made by the Yeezus rapper, the German sportswear label was left with large amounts of unreleased Yeezy stock. According to reports, the company has around $300 million USD worth of stock, which is a hell of a lot of Yeezys. Now the initial plan was for adidas to drop the remaining sneakers as planned, donating profits to charities that combat hate, discrimination and racism. Two drops were executed as planned earlier this year, with the brand set on raising $150 million USD for the charities. However, in a recent conference call, adidas CEO Bjørn Gulden shared that the company may make the financial decision not to drop the remaining Yeezy stock.
He stated “we of course hope that we can do more drops next year and that we can get value out of it and donate proceeds to anti-hate groups but right now, financially, we haven’t made the decision”. If this was to be the case, it’s reported that adidas would have to shell out a whopping €200 million EUR to destroy the leftover stock. As of yet it’s unclear how this story will develop, so stay locked in right here at Crepslocker where we’ll share more as it happens. In the meantime, browse the rest of our site for all the latest sneaker and luxury fashion drops!
