NEW YORK (AP) — Adidas said Friday that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups.
The German sportswear brand said recipients will include the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd.
“After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products,” said Adidas CEO Bjorn Gulden in a statement. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”
Yeezy products have been unavailable to shoppers since Adidas terminated its partnership with Ye, formerly known as Kanye West, in October 2022 following his antisemitic comments on social media and in interviews.
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The items to be sold include existing designs as well as designs that were in the works in 2022 for sale this year, Adidas said.
At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said.
The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023.
Photos: Kanye West through the years
Singer Kanye West poses on a rooftop in the SOHO section of New York, June 2, 2004. (AP Photo/Jim Cooper)
Kanye West, center, gestures as Gretchen Wilson accepts her award for breakthrough favorite artist at the 32nd annual American Music Awards, Sunday, Nov. 14, 2004, at the Shrine Auditorium in Los Angeles. West was also nominated for breakthrough favorite artist. (AP Photo/Mark J. Terrill)
Artist Kanye West, right, is congratulated after receiving 10 Grammy nominations as singer Anita Baker, left, applauds Tuesday, Dec. 7, 2004, in Los Angeles. The 47th Annual Grammy Awards will be presented February 13, 2005. (AP Photo/Ric Francis)
Kanye West, nominated in 10 categories including best new artist, arrives at the 47th Annual Grammy Awards Sunday, Feb. 13, 2005, at the Staples Center in Los Angeles. (AP Photo/Mark J. Terrill)
Kanye West performs “Jesus Walks” at the 47th Annual Grammy Awards Sunday, Feb. 13, 2005, at the Staples Center in Los Angeles. (AP Photo/Kevork Djansezian)
Kanye West poses with his three awards at the 47th Annual Grammy Awards on Sunday, Feb. 13, 2005, at the Staples Center in Los Angeles. West won for best rap album, best rap song and best R&B song. (AP Photo/Reed Saxon)
Rapper Kanye West performs at the NFL Kickoff Celebration Thursday, Sept. 8, 2005, at the Coliseum in Los Angeles. (AP Photo/Chris Carlson)
Kanye West accepts the award for best rap album for “Late Registration” at the 48th Annual Grammy Awards on Wednesday, Feb. 8, 2006, at the Staples Center in Los Angeles. (AP Photo/Mark J. Terrill)
Kanye West holds his three awards in the air backstage at the 48th Annual Grammy Awards on Wednesday, Feb. 8, 2006, in Los Angeles. West won for best rap album, solo and song. (AP Photo/Reed Saxon)
U.S. rapper Kanye West arrives at London’s Earl’s Court for the 2006 music Brit Awards, surrounded by gold painted models, Wednesday Feb. 15, 2006. (AP Photo/Max Nash)
Jamie Foxx, left, and Kanye West perform “Gold Digger” at the 48th Annual Grammy Awards on Wednesday, Feb. 8, 2006, in Los Angeles. (AP Photo/Mark J. Terrill)
Singer Kanye West displays her new CD during an autograph signing appearance at a Virgin Megastore in Los Angeles on Thursday, Sept. 13, 2007. West’s “Graduation” is on pace to sell about 575,000 to 700,000 its first week out. (AP Photo/Dan Steinberg)
Kanye West performs at GQ Magazine’s 50th anniversary party on Tuesday, Sept. 18, 2007 in New York. (AP Photo/John Smock)
Kanye West accepts the award for best rap album for “Graduation” at the 50th Annual Grammy Awards on Sunday, Feb. 10, 2008, in Los Angeles. (AP Photo/Kevork Djansezian)
Singer Kanye West takes the microphone from singer Taylor Swift as she accepts the “Best Female Video” award during the MTV Video Music Awards on Sunday, Sept. 13, 2009 in New York. (AP Photo/Jason DeCrow)
Kim Kardashian and her husband U.S rap artist Kanye West arrives at the Balmain Spring/Summer 2015 ready-to-wear fashion collection, in Paris, France, Thursday, Sept. 25, 2014. (AP Photo/Zacharie Scheurer)
Kanye West performs at the 57th annual Grammy Awards on Sunday, Feb. 8, 2015, in Los Angeles. (Photo by John Shearer/Invision/AP)
Kanye West performs during FYF Fest on Saturday, Aug. 22, 2015, in Los Angeles. (Photo by Rich Fury/Invision/AP)
Kanye West arrives for the showing of the Jeremy Scott Fall 2015 collection during Fashion Week, Wednesday, Feb. 18, 2015, in New York. (AP Photo/Bebeto Matthews)
Kanye West accepts the video vanguard award at the MTV Video Music Awards at the Microsoft Theater on Sunday, Aug. 30, 2015, in Los Angeles. (Photo by Matt Sayles/Invision/AP)
Kanye West performs at the Billboard Music Awards at the MGM Grand Garden Arena on Sunday, May 17, 2015, in Las Vegas. (Photo by Chris Pizzello/Invision/AP)
Kim Kardashian and Kanye West attend the 57th Annual Grammy Awards Official After Party on Sunday, Feb. 8, 2015 in Los Angeles. (Photo by Colin Young-Wolff/Invision/AP)
Kanye West performs at Wango Tango 2015 at StubHub Center on Saturday, May 9, 2015, in Carson, Calif. (Photo by Rich Fury/Invision/AP)
Paul McCartney, from left, Rihanna, and Kanye West perform at the 57th annual Grammy Awards on Sunday, Feb. 8, 2015, in Los Angeles. (Photo by John Shearer/Invision/AP)
Kanye West gestures to the audience at the unveiling of the Yeezy collection and album release for his latest album, “The Life of Pablo,” Thursday, Feb. 11, 2016 at Madison Square Garden in New York. (AP Photo/Bruce Barton)
American reality-show star Kim Kardashian takes a selfie as she rides on a classic car next to her husband, rap singer Kanye West in Havana, Cuba, Wednesday, May 4, 2016. West, Kardashian and members of her reality-show-star family have become the latest celebrities to visit Havana. They visited Havana’s Museum of Rum Wednesday, stepping out of a hot-pink antique American convertible as they snapped selfies and were recorded by a television crew following them around. (AP Photo/Desmond Boylan)
FILE – In this Aug. 28, 2016 file photo, Kanye West, left, and Kim Kardashian West arrive at the MTV Video Music Awards in New York. (Photo by Evan Agostini/Invision/AP, File)
President-elect Donald Trump and Kanye West pose for a picture in the lobby of Trump Tower in New York, Tuesday, Dec. 13, 2016. (AP Photo/Seth Wenig)
Rapper Kanye West smiles as he listens to a question from a reporter during a meeting in the Oval Office of the White House with President Donald Trump, Thursday, Oct. 11, 2018, in Washington. (AP Photo/Evan Vucci)
With their eyes closed for prayer, Joel Osteen, left, and Kanye West laugh as West makes a joke while leading the prayer during a service at Lakewood Church, Sunday, Nov. 17, 2019, in Houston. (AP Photo/Michael Wyke)
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