Adidas to Sell Some Yeezy Stock, Donate Proceeds

FILE PHOTO: The Adidas logo is pictured during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/File Photo
FILE PHOTO: The Adidas logo is pictured during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/File Photo
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Adidas to Sell Some Yeezy Stock, Donate Proceeds

FILE PHOTO: The Adidas logo is pictured during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/File Photo
FILE PHOTO: The Adidas logo is pictured during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's headquarters in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas Gebert/File Photo

Adidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organizations, CEO Bjoern Gulden said on Thursday.

The German sportswear giant has been in a predicament over the Yeezy stock since it cut ties with West over his
anti-Semitic comments late last year, with the controversy weighing on its stock and hitting its bottom line.

Millions of Yeezy brand shoes with a retail value of 1.2 billion euros ($1.3 billion) are sitting in storage after their
sale was put on hold.

Their value in the resale market has rocketed since Adidas stopped producing them, with some models more than doubling in price.

Addressing investors in the southern German town of Fuerth after the debacle contributed to the company's first annual loss in 31 years, Gulden said it had yet to be determined when and how the planned sale would proceed.

"What we are trying to do now over time is to sell some of this merchandise ... burning the goods would not be a solution," he said, adding the proceeds would be donated to international organizations that West, who changed his name to Ye in 2021, had harmed with his comments.

Shares in Adidas were up 2.2% at 1000 GMT, Reuters reported.

"It's a smart and responsible move," said Ed Stoner, a sportswear industry consultant who previously worked at Adidas, adding it "not only preserves the brand's integrity but avoids a sustainability crisis."

By selling some of the stock, the company is potentially minimizing a $700 million loss this year, but it is unclear how much stock will be sold and what proportion of the proceeds will be donated.

If the goods are sold, Ye will be entitled to previously-agreed commissions - 15% of turnover, according to media reports. Adidas has declined to comment on this.

Gulden defended Adidas' years-long collaboration with the rapper, saying that "as difficult as he was, he is perhaps the most creative mind in our industry".



Issey Miyake’s Wind-inspired Show Takes Flight at Paris Fashion Week

This photo shows Issey Miyake at the National Art Center in Tokyo on March 15, 2016. (Kyodo News via AP)
This photo shows Issey Miyake at the National Art Center in Tokyo on March 15, 2016. (Kyodo News via AP)
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Issey Miyake’s Wind-inspired Show Takes Flight at Paris Fashion Week

This photo shows Issey Miyake at the National Art Center in Tokyo on March 15, 2016. (Kyodo News via AP)
This photo shows Issey Miyake at the National Art Center in Tokyo on March 15, 2016. (Kyodo News via AP)

Diaphanous origami-like sculptures that floated like spring seeds caught in the wind captured the essence of the subtle, rich, and exquisite display from Issey Miyake at Paris Fashion Week — one of the strongest in seasons.
The breathtaking menswear displays in the show “Up, Up, and Away” featured couture-like poetry: seemingly weightless textiles that billowed like parachutes or kites. The garments seemed ready for flight, said The Associated Press said.
In Mobilier National’s cobbled courtyard, the Homme Plissé show Thursday morning took inspiration from all things windy, transforming the elements into wearable art.
The collection was a testament to designer Satoshi Kondo’s deft innovations with fabric techniques.
A vivid blue coat cut a striking figure, with stiff, angular sleeves that contrasted beautifully with the softness of its pleats. This was not just a coat, but a sculptural piece that transformed with the air, reminiscent of Kondo’s signature romantic approach to silhouettes.
Kondo brought garments to life, like kites in the sky with voluminous silhouettes created by fastening and unfastening buttons. One standout piece, a pale blue hooded look, billowed like a parachute when the model walked across the cobbled courtyard, its back panels filling with air dramatically.
A beige T-shirt and waistcoat ensemble looked red carpet-ready with its chicly pleated, arrow-thin assorted tie.
Kondo's was a poetic masterclass in fusing complexity with simplicity, and when the collection entered to rousing applause, the Paris sun finally peeked out from between the clouds.