Adidas To Continue Selling Yeezy’s Under New Name
12 Nov 2022
Adidas has confirmed it still plans to sell Yeezy designs — just with a different name.
The German sportswear and apparel officially cut ties with Kanye West and the Yeezy brand last month after a slew of antisemitic comments.
“I can confirm that Adidas is the sole owner of all design rights related to existing product, as well as previous and new colorways under the partnership,” Adidas Chief Financial Officer Harm Ohlmeyer said during the call.
“We intend to make use of these rights as early as 2023. Going forward we will leverage the existing inventory with the exact plans being developed as we speak”.
Ending the partnership with Ye cost Adidas more than $250 million in profit in 2022 and $500 million in lost revenue, the company said Wednesday.
Selling the sneakers under Adidas’ own branding will save the company about $300 million in royalty payments and marketing fees.