You might talk less about yourself in mainstream media but his fans still love him and appreciate his projects. The former Kanye West lost in October 2022, following his racist and anti-Semitic remarks, his lucrative fashion deals with Balenciaga, Gap or even adidas. For the latter brand, the sudden cessation of the marketing of products deriving from its collaboration with Yeezy, the rapper’s profitable label founded in 2014, occurred with a loss and a meltdown.
THE Financial Times so noted in February 2023 that adidas risked ” operating losses of 700 million euros if it failed to sell its Yeezy sneaker shares », and up to 1.2 billion euros in annual turnover. Some months later, now the German manufacturer of sports equipment announces that it has changed its tone, in order to limit the economic damage without tarnishing its image too much.
adidas will resell Yeezy sneakers for the benefit of associations
As noted AFP extensiontransmitted in particular by the specialized media Fashion networkadidas will resume the marketing of its Yeezy shares for the benefit of various associations, of which we know the first two: the Anti-Defamation League (an association for the fight against anti-Semitism founded in the United States in 1913) and the Philonise and Keeta Floyd Institute for Social Change (an NGO to fight racism, founded in the United States in 2021 by the brother of George Floyd, who was killed by the police when he was arrested in May 2020).
According to a press release from the German equipment maker published on May 19, 2023, other associations are also expected to reap a share of the profits from adidas’ sale of Yeezy inventory. adidas CEO Bjørn Gulden specifically stated:
“After careful consideration, we have decided to start marketing some of the remaining adidas YEEZY products. Selling and donating was the preferred option of every organization and stakeholder we spoke to. We believe this is the best solution because it respects the designs created and the shoes produced, works for our employees, solves an inventory problem, and will have a positive impact in our communities. There is no place in sport or society for hate of any kind and we remain determined to fight it. »
Jonathan A. Greenblatt, CEO of the anti-Semitism nonprofit Anti-Defamation League, added:
“At a time when anti-Semitism has reached historic levels in the United States and is increasing worldwide, we appreciate how adidas has turned a negative situation into a very positive outcome. They have shown genuine concern by engaging with community organizations working to combat this pernicious and stubborn hatred.
Their leadership, not only in condemning anti-Jewish hatred but also in supporting education and other initiatives, is exemplary and a model for other public enterprises to emulate. We thank them for their continued dialogue about their remaining inventory and for their vested interest in addressing issues of prejudice and hate. »
In short, an interesting crisis management strategy to get your head back out of the water after a bad buzz. adidas YEEZY products will be released from the end of May 2023 on adidas.com/yeezy and on the adidas CONFIRMED app. And given the way the news is circulating massively, we can say that Ye and his Yeezy still have a bright future ahead of them…
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Source: Madmoizelle
Mary Crossley is an author at “The Fashion Vibes”. She is a seasoned journalist who is dedicated to delivering the latest news to her readers. With a keen sense of what’s important, Mary covers a wide range of topics, from politics to lifestyle and everything in between.
