Adidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden said on Thursday.
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 Gebertwill sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden said on Thursday.
Their value in the resale market has rocketed since Adidas stopped producing them, with some models more than doubling in price. Gulden said the company had decided against donating the sneakers to avoid them reaching the market in a roundabout way."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."
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". However, the investigation also concluded that the rapper's erratic and sometimes inappropriate behaviour made for a challenging work environment at Adidas, Ohlmeyer said, adding the company was now in the process of implementing measures to prevent such problems from occurring in the future.
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