Adidas' decision on Yeezy shoes

Adidas has decided to sell the $1.3 billion worth of Yeezy shoes the company was stuck with after cutting ties with Kanye West ...

Transcript

00:00Adidas has finally decided what it's going to do with the $1.3 billion worth of Yeezy shoes.

00:05So what's their plan and why did it take them this long to come to the decision?

00:09Brute can explain in less than 60 seconds.

00:11Seven months after Adidas split with Kanye West, it has decided it will sell its remaining inventory,

00:16with a significant amount being donated to organizations working to combat discrimination

00:21and hate, including racism and anti-Semitism.

00:24Some of the organizations that will receive donations include the Anti-Defamation League

00:28and Filonas & Keats at Floyd Institute for Social Change, which is run by George Floyd's brother.

00:33The company spent some time trying to decide what to do with the $1.3 billion worth of Yeezy's gear

00:38following Kanye's anti-Semitic grants.

00:40Destroying the shoes altogether would not have been environmentally sustainable or friendly,

00:45and simply donating the shoes could have driven up prices on the resale market.

00:48On an earnings call in March, Adidas' chief executive said,

00:52If we sell it, I promise that the people who have been hurt by this

00:55will also get something good out of this.