Proceeds from the sale of the shoes will be donated to anti-racism groups.

NEW YORK — Adidas announced Friday that it will begin selling more than $1 billion worth of merchandise leftover Yeezy sneakers later this month, with the proceeds going to various anti-racism groups.

The German sportswear brand said the recipients will be the Anti-Defamation League, which fights anti-Semitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, which is run by social justice activist Philonise Floyd, brother of George Floyd.

“After careful consideration, we have decided to start releasing some of the remaining Adidas Yeezy products,” Adidas CEO Bjorn Gulden said in a statement. – Sales and donations were the preferred option among all the organizations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting it.”

Yeezy products have been unavailable to buyers since Adidas stopped his partnership with Ye, formerly known as Kanye West, in October 2022 after him anti-Semitic comments on social media and in interviews.

Items to be sold include existing designs as well as designs that were in development in 2022 for sale this year, Adidas said.

Adidas annual meeting of shareholders Earlier this month, Goulden said the company spent months looking for solutions before deciding not to destroy the items and sell them to benefit various charities affected by what Ye said.

The company said on Friday that the move has no immediate impact on the company’s current financial outlook for 2023.

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