Adidas To Continue Selling Yeezy Products Under a Different Name After Cutting Ties w/ Kanye West Over Antisemitic Remarks

Adidas To Continue Selling Yeezy Products Under a Different Name After Cutting Ties w/ Kanye West Over Antisemitic Remarks

Adidas may be done with Kanye West, but his products are a totally different story.

Adidas declared that they will move forward and continue to sell the lucrative sneaker and apparel line — simply without the Yeezy name and branding — just weeks after the rapper now known as Ye lost his billionaire status as a result of the sportswear brand cutting ties with him.

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According to Adidas finance chief Harm Ohlmeyer,

“Going forward, we will leverage the existing inventory with the exact plans being developed as we speak.”

Adidas claimed to be the sole owner of all Yeezy line design rights, including all current and upcoming colors and variations. The cost of royalties and marketing expenses will be reduced by around $300 million for the corporation by selling the sneakers under its own logo.

According to Morgan Stanley, Yeezy items brought in roughly $2 billion in revenue for Adidas last year, or eight percent of the company’s overall sales. The line also attracted new customers who bought other Adidas merchandise and helped the company secure shelf space at big retailers.

The sportswear brand reported on Wednesday (Nov. 9) that the termination of the partnership with Kanye West cost them more than $250 million in profit and $500 million in lost sales.

Adidas announced the appointment of a new CEO on Tuesday (Nov. 8), choosing the head of Puma to succeed Kasper Rorsted. Norwegian Bjrn Gulden will head Adidas starting in 2023 and will reportedly have to figure out how to revive the brand and replace the Yeezy sales.

Kanye West

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[VIA]