Adidas donating $150 million from Yeezy shoe sales to anti-hate groups
Newsy
The gift comes after Adidas cut ties with Ye, the rapper formerly known as Kanye West, over his antisemitic and offensives statements.
Adidas said Wednesday that it's donated or is planning to give away more than $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes last year after it severed ties with Ye, the rapper formerly known as Kanye West.
The German sportswear brand had $1.3 billion worth of popular Yeezy sneakers piled up in warehouses after it broke off its partnership with Ye in October 2022 over his antisemitic and other offensive comments on social media and in interviews.
Adidas decided to sell some of the remaining shoes in batches, with two releases last year and another that launched late last month, and donate a portion of the proceeds to anti-hate groups.
The company has made donations to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd.
Net sales of what's left of Adidas' former banner line of sneakers brought in about $800 million last year, compared with over $1.3 billion in 2022, the company reported.
