Adidas decides to sell Kanye West sneakers and donate the proceeds

the German brand adidas has decided to sell the stock of products from the Yeezy line, in collaboration with the rapper Kanye Westand donate the profits. The company faced an impasse with a $500 million stock of sneakers – about R$2.4 billion at current prices – after breaking its contract with the musician for anti-Semitic statements.

“Burn [o estoque] it’s not the solution,” said the CEO of Adidas, Bjorn Gulden in a meeting with shareholders last Thursday, 11, according to the newspaper The Washington Post. Gulden said he consulted with several NGOs before making the decision and that he intends to give the money to “institutions that help us and have been hurt by Kanye’s statements”.

The company decided to end cooperation with the musician and discontinue the Yeezy line in October. At the time, the company wrote that it does not tolerate “anti-Semitism or any kind of hate speech” and called the rapper’s stance “unacceptable, hateful and dangerous.”

After the announcement, Kanye left the list of billionaires of forbes. According to the magazine, he lost a US$1.5 billion (about R$7.3 billion in current prices) contract with the break.

*Intern under the supervision of Charlise de Morais

Source: Terra