with the rapper, now known as Ye, in October after he posted antisemitic tweets and made offensive comments on Fox News., Adidas instead decided to sell the sneakers and use the profits to make"substantial donations'" to causes combatting antisemitism and other forms of racism.
CEO Bjørn Gulden said Thursday these groups included the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change, and Robert Kraft's Foundation to Combat Antisemitism. Adidas did not say what proportion of the sales would be donated to charity, nor whether Ye would receive any of the proceeds.
Gulden said in the financial statement that this solution was"much better than destroying and writing off the inventory" – a move that was
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: