Adidas has finally decided to sell the remaining $1 billion worth of footwear and apparel from its association with “Ye,” previously Kanye West, which ended last fall due to the rapper’s string of antisemitic comments.
Ye and Adidas’ partnership ended, resulting in the sportswear company’s first loss in 31 years. Additionally, it gave stockholders the idea to sue.
Burning the items is not the solution, CEO Bjrn Gulden stated. Right now, we’re attempting to sell some of this merchandise and raise money for the charities that Kanye’s comments harmed.
Adidas would lose $700 million if the Ye goods couldn’t be sold. Ye will continue to receive 15% of sales, which is a significant drawback of the strategy.
Meanwhile, Ye’s revived presidential campaign suffered another setback this week when his re-hired campaign manager Milo Yiannopoulos was charged with violating the law governing campaign funding by the departing campaign treasurer.