Adidas may have terminated its relationship with Kanye West’s Yeezy last month, but the company still plans to sell products from the collaboration, just under a new name.
According to Business Insider, Adidas announced the decision on its quarterly earnings call on November 9th. They plan to release more Yeezys as early as next year, just without Kanye’s collaboration.
"Adidas is the sole owner of all design rights registered to existing product," Harm Ohlmeyer, Adidas’ Chief Financial Officer, said during the call. "We intend to make use of these rights as early as 2023."
However, Business Insider points out that Kanye retains the patent for the Yeezy Slide, so Adidas may not be able to come out with additional versions of the slides.
During a press conference, Ohlmeyer was asked whether Adidas is worried that its reputation could be harmed by continuing to produce Yeezys, given Kanye’s controversial behavior.
"We are working through all the options," he responded. "When the time is right we will be more specific."
Adidas initially announced its billion-dollar partnership with Kanye was under review, though they didn’t cancel it at the time.
However, the brand faced mounting backlash for keeping the partnership alive as many brands cut ties with Kanye amid his most recent behavior, which has included antisemitic and anti-Black comments. As a result, they announced they were ending the collaboration after nearly a decade of working with Kanye.
“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.”
Adidas said it expected to take a $247 million hit this year as a result of the partnership coming to an end. But the company is set to save hundreds of millions thanks to lower marketing costs that they'll no longer need to account for with Kanye's name no longer associated with the products.
So far, Ye hasn’t responded to the revelation, but he has been vocal in the past about Adidas releasing footwear inspired by Yeezy without his brand’s name attached.
"I'm not standing for this blatant copying no more," he wrote on social media in June, after Adidas released slides inspired by Yeezy.
Furthermore, Kanye has criticized Adidas for establishing Yeezy Day without his approval and naming sneaker released without his input. He’s also expressed dissatisfaction with Adidas’ decision not to create physical stores devoted to their brand collaboration.
Since losing his partnership with Adidas, Forbes has said Kanye is no longer a billionaire.
Sources: Business Insider, Hollywood Reporter,
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