Adidas has announced that it will donate a portion of the profits from the sale of its Kanye West sneakers to organizations fighting anti-Semitism and greater social justice. The German firm has actually undertaken to sell $1.2 billion of its unsold shares, which remain on its hands after the brutal termination of its contract with the American rapper due to his anti-Semitic statements. The end of the collaboration between the artist – who now calls himself Yeezy – and the brand caused a lot of noise, although it was one of the most exciting in the history of adidas.
The brand will thus donate $150 million to the Anti-Defamation League as well as the Philones and Keita Floyd Institute for Social Change, led by the brother of George Floyd, who in 2020 died of suffocation after being kneed by a policeman. Neck
Company officials put the shoes on sale in installments. The first two rounds took place in 2023 and the third in early 2024. Even if the resale of its shares allowed Adidas to end last year with an operating profit of 268 million euros, it insists this is below 60%. 2022, when his collaboration with Kanye West was still thriving.
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