// Adidas has opted not to scrap stock from its Yeezy collection and will instead donate proceeds to charities
// The sportswear giant stopped selling Yeezy shoes in October after it cut ties with rapper Ye following his antisemitic remarks
Adidas will sell the remaining products from its ill-fated Yeezy partnership with Kanye West and donate the proceeds to charity.
Chief executive Björn Gulden told shareholders on Thursday the sportswear giant is currently sitting on more than £867m (€1bn) worth of stock.
He said the group had decided against destroying the shoes and instead will donate the profit from the sales to charities representing people who “were hurt” by the antisemitic remarks made by West, who now goes back the name Ye.
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“Burning several million pairs [of shoes] does not make sense,” he told investors.
The retailer stopped selling Yeezy shoes in October after ending its nine-year relationship with Ye following several racist comments.
Adidas has been under pressure from investors over its partnership with Ye and its handling of misconduct allegations against West.
The fallout from terminating the collaboration saw Adidas profits slip 1% to £9.45bn in the year to 31 December 2022.
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