The value of Yeezy shoes in the resale market has rocketed since Adidas stopped producing them.
Adidas is sitting on unsold stock of Yeezy brand shoes worth more than $1 billion.“We believe this is the best solution as it respects the created designs and the produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities,” CEO Bjoern Gulden said.
“There is no place in sport or society for hate of any kind and we remain committed to fighting against it.” Among others, planned recipients of the proceeds include the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, Adidas said.
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