Adidas and Kanye West are back in business. News of the renewed partnership comes via the YEEZY MAFIA, a source of all things Yeezy, including his sneaker line.
Confirming the news, Reuters states Adidas CEO Bjoern Gulden revealed the renewed partnership to move some of the merchandise and donate a portion of the proceeds to international organizations.
A reported $1.3 billion in Yeezy-branded Adidas products are sitting in storage after the partnership was ended over the rapper’s antisemitic statements. Gulden stated plans for how Adidas will continue with the sale are not in place.
“What we are trying to do now over time is to sell some of this merchandise … burning the goods would not be a solution,” Gulden said.
Donating the sneakers was not an option out of fear the sneakers would reach the secondary market. Adidas stock is up 2% so far on the day. Ye would still receive 15% of the sales.
Speaking on the rapper, Culden stated about Ye, “As difficult as he was, he is perhaps the most creative mind in our industry.”