Yeezy shoes are back on sale — months after Adidas cut ties with Kanye West

Adidas had a years-long partnership with Kanye West, now known as Ye, but was left holding billions of euros worth of shoes when Ye's poor behaviour led to the company cutting ties with him. Photo / AP

Some of Adidas’ remaining Yeezy shoes are back on sale — months after the German sportswear company cut ties with Ye, the rapper formerly known as Kanye West.

Adidas ended its years-long partnership with Ye in late October, in light of his antisemitic remarks and other harmful behaviour. In the months that followed, the fate of €1.2 billion ($2.1b) worth of unsold Yeezys remained unknown — until Adidas CEO Bjorn Gulden announced last month the company would sell a portion of the remaining inventory and donate some of the proceeds to social justice organisations.

The first batch of Yeezys went on sale yesterday, available through Adidas’ app Confirmed, according to the retailer’s website. Part of the profits will be donated to organisations including the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, Adidas says.

Yeezy products up for sale will include existing designs as well as those that were set to be released this year, Adidas previously noted.

“We believe [selling and donating] is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities,” Gulden said on May 19.

At a May 11 annual shareholder meeting, Gulden explained the company decided to sell the Yeezys after speaking with non-governmental organisations and groups that were harmed by Ye’s comments and actions.

Some details of Adidas’ plans are still unclear — including how many Yeezys will eventually go on sale and what portion of sales will be donated. The Associated Press has asked Adidas for further information.

Cutting ties with Ye cost Adidas hundreds of millions of dollars — contributing to a loss of €600m in sales for the last three months of 2022, which helped drive the company to a quarterly net loss of €513m.

Adidas reported €400m in lost sales at the start of the year, the company announced last month.

Net sales declined 1 per cent in the first quarter to €5.27b, the company said. It reported a net loss of €24m, a plunge from a profit of €310m in the same period a year ago.

Operating profit, which excludes items such as taxes, was down to €60m from €437m a year earlier.

Meanwhile, investors also filed a class-action lawsuit against Adidas in late April, alleging the company knew about offensive remarks and harmful behaviour from Ye years before terminating its pact with him. Adidas has pushed back on the allegations.