Kanye West’s Yeezy line will still be sold by adidas, but under a new brand name, the sports giant confirmed during a quarterly earnings call on Wednesday (November 9).
According to Insider, adidas Chief Financial Officer Harm Ohlmeyer relayed that the company owns all of the “new versions” and “colorways” of the Yeezy designs.
“adidas is the sole owner of all design rights registered to existing product,” Ohlmeyer said. “We intend to make use of these rights as early as 2023. We are working through all the options. When the time is right we will be more specific.”
Kanye West still owns the patent to the YEEZY Slides, however, so don’t expect to see adidas roll out its own line of sandals in stores. The rap mogul previously accused adidas of ripping off his slides design in June with the launch of their Adilette 22 sandals.
adidas is expected to take a roughly $250 million loss for the rest of 2022 after cutting ties with Kanye last month following his alleged anti-Semitic remarks.
Ohlmeyer explained on the call that adidas’ total revenue for 2022 will be about $500 million lower than expected, but clarified the company will save about $300 million in royalties that they would’ve had to pay Ye next year.
Based on Twitter conversations, it doesn’t appear as though many fans will be lining up for Yeezy products in the future now that Kanye is no longer involved.
“adidas does not tolerate anti-Semitism and any other sort of hate speech,” a statement from the company read in October. “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.”
Kanye West’s net worth took a significant hit after being dropped by adidas. According to Forbes, Ye’s $1.9 billion fortune plummeted to a reported $400 million.
Because they paid for them Kanye. That’s like me buying a p and then we shoot at each other… u expect me to not move that?
Because they paid for them Kanye. That’s like me buying a p and then we shoot at each other… u expect me to not move that?
Bootleg yeezys basically
So basically they are trying to still make the $1-2 billion annual sales they usually make off the Yeezy brand but without using the name
Of course. Why wouldn’t they?
This kinda proves Ye’s point about the contracts. Just like Lil Wayne’s situation and Dave Chapelle’s
Bloody hell, so they are going to sell these cursed shoes made by Ye the hate speech homosapien… hilarious. They can have them yeezys now. Duck em in the A throw them over the bridge.
Yeah it’s not going to work like they expect it to. Even proves the point most ppl have of Adidas…… outside of the Alexander Wang and Ye’s collection their shoes aren’t good. It’s hard to create things that ppl want to buy…it’s a talent only a few ppl have and Kanye has done it at Nike and with Adidas. Even Phil Knight at Nike couldn’t understand why the Nike Yeezys were so popular. Changing the name as if ppl don’t know who shoe designs they really are is a bad idea….
Yeah it’s not going to work like they expect it to. Even proves the point most ppl have of Adidas…… outside of the Alexander Wang and Ye’s collection their shoes aren’t good. It’s hard to create things that ppl want to buy…it’s a talent only a few ppl have and Kanye has done it at Nike and with Adidas. Even Phil Knight at Nike couldn’t understand why the Nike Yeezys were so popular. Changing the name as if ppl don’t know who shoe designs they really are is a bad idea.
You think Kanye was the sole designer? Or even a major part of it? If it were the case he’d be keeping the designs. He was the face? Also did you say Wang? Lmfao u tasteless bum. That collection was what, 2-3 years ago? And it wasn’t even good. Adidas is fire and they’ll be fine.
Ye voiced his complaints about their (adidas) thievery from the start. This has always been their plan. The whole antisemitism shit just came at the right time for them, so they can severe ties with him without legal action. This is exactly how Caucasian people acquire their power: sit back, put their team around you, feed you pennies, attach themselves to your brand/star power, steal your ideas, then cut you out/kill you. I wish these ignorant niggas would boycott the brand but knowing them they don’t care. Be safe Ye. Make some new shit.
ye brought this on himself with the internet bigot nonsense. it’s not like adidas just publicly turned on ye. nobody turning on hov. nobody tryng to cut Drake out of anything. I mean I do get some of what you have to say but the fact is adidas paid Ye a lot of money and there’s very few people who would really ride for Ye’s beliefs. maybe Ye’s music but not what he’s pushing in these interviews
Aint nobody buying them knock offs
Aint nobody buying them knock offs
They are going to be in Ross by the summer without Ye
IT STARTS HERE! BOYCOTT ADIDAS! NOT THAT ANYONE WAS BUYING THAT TRASH ANYWAY. KILL THAT RACIST COMPANY!
Nah fuck you, slavery was a choice
Slavery was not a choice. It was impose.
Good serves him right. Put Ye in a straightjaccet
Good fuck Ye
Slavery was a choice, so I choose to fuck with adidas still
Slavery was a choice and I choose to still fuck with adidas