Kanye West‘s termination from adidas has reportedly left the sportswear giant in a bit of a bind and stuck with a massive overstock of Yeezy sneakers.
According to the Financial Times, adidas is frantically trying to figure out how to shift $530 million worth of the rapper and producer’s once hugely popular shoe.
Back in October, the company announced it would be ending its lucrative partnership with Kanye West — now legally known as Ye — citing his numerous antisemitic remarks and hate speech-filled rants.
“adidas does not tolerate antisemitism and any other sort of hate speech,” the company said in a statement. “Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.
“After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. adidas will stop the adidas Yeezy business with immediate effect.”
However, adidas revealed in November that it would still sell the Yeezy line, but as part of its own brand. The Financial Times claims this is to avoid taking more financial hits.
It was reported at the time of Ye’s unceremonious departure from adidas that the German sports giant was expected to take around a $250 million loss for the rest of 2022 after parting ways with the College Dropout star.
At the end of this year alone, Yeezys made up an estimated $1.8 billion in annual revenue for adidas, or 7 percent of its totals, per the Financial Times. The London-Based newspaper reported that fears of heavy-reliance on Yeezy sneakers have circulated for years among employees.
Meanwhile, several former Yeezy, adidas and Gap collaborators have described the working conditions within Kanye’s company as “a chaotic clusterfuck and a toxic and ‘abusive’ work environment.”
According to a Rolling Stone report in November, they were all under the assumption that working for the Grammy Award-winner would be a “dream job,” but were surprised when it was far from the truth.
Sources said the “abrupt firings and rolling layoffs, intimidation and humiliation tactics, and a cult-like atmosphere where sycophancy thrived,” were central to the company.
It was also recently reported that Kanye’s Yeezy headquarters in Los Angeles is facing eviction from its office after missing two months of rent totalling $63,254. The landlord requested Ye pay the tab in full within 72 hours of the notice or face eviction.
Ye first leased the 15,000 square feet of office space in 2015 when Yeezy was known as West Brands Fashion. At the lease signing, Yeezy originally agreed to pay $31,477.40 per month and did so in full before missing the last two payments for November and December.
Ye the smartest man in rap. Told them all to fuck themselves in the back and split for the ranch. Absolute Legend
Right. He legit wanted to get out of the contracts, but they wouldn’t let him. So he says some controversial things, bam. Contracts canceled on Adidas end, he’s free to run his own companies, and they sabotaged themselves hahaha
The smartest man split his wealth, lost his record deal, and has no family (his true wealth). Yep, only losers are checking for other losers.
coc nation will burn to the ground
Kanye is a moron, I’m baffled that some blacks still support this ignorant mofo. He doesn’t even give a da#% about black people. He’s a genius because he got a bunch of fools to spend ridiculous money on ugly a$$ shoes.
It’s not just the blacks that support him still but those of a lighter/whiter hue. Which are the main people buying his shoes first off…js.
gonna see homeless people wearing the sneakers now. all the people who paid hundreds or even thousands on these ugly ass kicks must be happy!
I agree they’re ugly and overpriced, but I’m sure they’re happy. They’re worth 5x + what they paid due to them canceling the product. Check ebay.
Kanye keeps shooting himself in the foot and his fangirls are cheering it on hahaha
Go woke, go broke. If they smart they sell them to an investor for 2-3 million. That way he can sell them in states where people dont give a fuck about woke politics. Or they could include a pair of yeezys in the safe smoking kits with government funded crackpipes.
Not liking Hitler is woke politics? Y’all are lost lmfao
No, canceling someone for their own opinion while they aren’t breaking any laws is what’s woke.
They should just give him his shit and let him sell them on line I will buy a pair from ye
Are you suggesting that anyone having consequences for the shit that comes out of their mouth is being canceled?
You can’t have freedom of speech without responsibility. There are way better examples of people being unfairly targeted by the government for speaking out against them. Kanye is not one of them lmfao. Bro ain’t in jail, last time I checked. Alex Jones still has a platform.
If your whole beef is with social media suspensions, social media companies are private most of the time, which means they are able to have whatever they want in their terms of service, for better or worse. Add the fact that they are mostly funded by advertisers means they’re not gonna want someone who loves Hitler on their platform. If you don’t like it, start your own social media company and see how it goes. Kanye is not a victim here.
YUP!! Sad but true!! Plus you get what you deserve 😌
Hitler is not everyone’s enemy. Hitler may not be the evil villain in everyone’s mind that those who think like the ones who fired Ye would like him to be. Where’s the ‘Rushdie’ of German authors? Would they be left in the lurch or protected as he is?
How is Hitler not an “evil villain” to anyone who even knows a little bit about him?
We’re not talking about German authors, we’re talking about Hitler. Specifically. Stop shifting the goalpost.
Lmao of all the hills to die on, y’all pick this. Y’all are lost.
Ye can have all the opinions he wants, however he signed a morality clause with Adidas saying that he wouldn’t say shit like “I like Hitler.” So when he did he got fired. Fired for breaking his contract, not for having opinions or not being “woke”.
Are you seriously comparing Ye to Rushdie? No. Just no.
Media is owned by 2 if not possibly even 1 guy. George sorrows, who was also a neo nazi.
Adidas finna go bankrupt just because they wanted to appease the small hats smh
Naw, they’ll be aight.
My brotha you are lost. Keep believing those conspiracies and you are a big disservice to you’re own people. Keep that in mind…Thomas.
Haha, sorry to say Addis not going to go bankrupt..
Keep believing your media gods and you will.be forever in the lake of fire.
No problem. Just make all the money go to anti racist foundations or something. But it on the box and sell them cheaper.
Anti racist? No. All salesm must go to the poor, oppressed, and impoverished Jewish people.
Naw, it should go to fund your education, since the k12 system failed you, as it does most.
As it was created to do…
Just do what AMZ does and liquidate excess trash on a during big sale.
It’s ironic that those who claim to fighting to protect our freedoms are also the ones who employ oppressive tactics to restrict the freedoms of others who don’t subscribe to their -isms. Free speech is a beautiful concept that should be protected. But, speaking freely and using loaded rhetoric to incite violence and hate are two very different things. Woke politics are still politics. They create derision and division under the guise of unifying the underrepresented minority groups. Perhaps, if schools were allowed to teach history as is, both the good and bad, more people would understand the devastating consequences of the course we’re on in a world that becomes more separate and less equal every day. Peace and Love
I love reading comments about about things and how ignorant people are that post them. but when I read this I’m glad to see there is still 1 person that understands what’s going on as a whole that understands there is an agenda being pushed right now and there is more to it than what people see from the outside looking in but most people are to lazy to look past the outside and take the woke media’s word for it without doing there own research thank you for giving me hope there are still people out there that don’t fall into ever trap set
We are decent in numbers bro, your a pure blood I bet too!
@adidas that’s what the hell yall get, trying to follow the bandwagon and cancel him like everyone else did now you about to get canceled, permanently. Sweet sweet karma
coc nation dead
I wonder what Ye supporters would say if someone said the same thing about slave owners that he says about Hitler? Would they have the same freedom of speech? Would they have the right to sell their products through Nike?
I wonder what Ye supporters would say if someone said the same thing about slave owners that he says about Hitler? Would they have the same freedom of speech? Should they have the right to sell their products through Nike?
Just wondering what Ye supporters would say if someone said the same thing about slave owners that he says about Hitler? Would they have the same freedom of speech? Should they have the right to sell their products through Nike?
Get Woke, make knee jerk bad business decisions, go broke.
Definitely curious to see how they figure the mess they got themselves in without carefully thinking it through. Fact of the matter is ye was their future. Now that creative genius is gone. As for ye he’ll bounce back in time. He’s still a millionaire. Most ppl known to be visionaries weren’t very well liked i.e. Steve Jobs, Elon Musk, Mark Zuckerberg, etc.
Definitely curious to see how they figure the mess they got themselves in without carefully thinking it through. Fact of the matter is ye was their future. Now that creative genius is gone. As for ye he’ll bounce back in time. He’s still a millionaire. Most ppl known to be visionaries weren’t very well liked i.e. Steve Jobs, Elon Musk, Mark Zuckerberg, etc.
Ye did a good thing, he proved we were all right about the small hats. Wait til he learn it was the small hats who controlled transatlantic slave trade.. we been blaming wrong whitey all this time but now we see we have a common enemy.
Adidas and Puma both support the brutal occupation of Palestine by Zionists so they’re really not that clean themselves. Fuck ’em.