Can Adidas Still Sell Yeezys? They Can, And They Will!
Can Adidas still sell Yeezys? Apparently, they’re doing it and donating the proceeds to charity! Quite the charitable soul, the Three Stripes is. So, after spending months deliberating what to do with their leftover Yeezys, Adidas CEO Bjorn Gulden has finally devised a plan. During the annual shareholder meeting last Thursday, Gulden announced they’ve finally picked out a strategy from numerous others… including literally burning them to ashes!
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Y’all must’ve heard by now. In October 2022, the sportswear giant cut ties with Ye (formerly known as, Kanye West) its most prominent and best-selling designer, over offensive anti-semitic comments.
Now, for a little backstory, Ye has engaged in a series of hateful actions before. Those same stories prompted celebrities and influencers to urge Adidas to act. The rapper claimed slavery was a choice and called the COVID vaccine “the mark of the beast”. He also wore a “White Lives Matter” T-shirt to his Yeezey show in Paris. The Anti-Defamation League categorizes the phrase as a hate slogan used by White supremacist groups like the KKK. Days later, Ye said “I can say antisemitic s*** and Adidas cannot drop me,” during a podcast taping.
Oh, but dropping him, they did. And after terminating its partnership with Ye, Adidas claimed that the company “does not tolerate antisemitism and any other sort of hate speech. It further commented that “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.”
From there, shit hit the fan for West. CAA, his talent agency dropped him. And the MRC studio announced it’s working on a complete documentary about the rapper. Moreover, the Balenciaga fashion house cut ties with him. Not to mention JP Morgan and Footlocker, too. But the Adidas severance hurt the most. Just losing the Yeezy contract was enough to demote Ye from billionaire status. Because this deal made up the largest share of the musician’s net worth, according to Forbes.
Can Adidas Still Sell Yeezys?
Can Adidas still sell Yeezys? Well, after the partnership spanned 9 years, it came to a rocky end. Since the breakup, the German brand has faced a ton of obstacles — from a lawsuit by Adidas investors, accusing the company of failing to warn them about the rapper’s extreme behavior, to ongoing financial hits. Adidas reported they’ve lost more than $655 million in 2022’s final quarter, alone! Now, they’re trying to orchestrate a comeback with its $1.3 billion worth of leftover Yeezy supply.
The CEO at Adidas had more to say about the matter. He stated that although he considers Ye a very difficult person, he can’t deny the fact that the artist is one of the most creative people in the industry. “Unfortunately, we also know what he did, and I think it was the right thing for us to terminate the contract,” Gulden further added.
At the annual shareholder meeting, Gulden announced the brand seeks to “sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements,” quoted in CBS News.
But selling Yeezys wouldn’t just be an act of charity. The rapper stands to gain %15 from royalties of any stock Adidas sells, as Guden confirmed in March (although he opted for 20%).
Adidas Will Sell Yeezys Again: The Future of Yeezys
Details of how and when the inventory will be offloaded, and which charities will benefit, are yet to be declared. However, Adidas can technically produce more Yeezy sneakers even without Ye. The company has all the patents and copyrights for the IP, designs, and colorways. It can omit the branding, give up the name “Yeezy,” call it a good ol’ day, then continue selling the shoe.
Yet, GlobalData apparel analyst Darcey Jupp warns against it. She declared that the shoes “will always be synonymous with West, and this would likely result in muted customer demand.” And we can’t say we disagree one bit. Especially with the sudden comeback, Ye made into the industry. If you still haven’t heard of the news, let us do the pleasure and inform you that Ye hosted a secret Yeezy show, a week or so before. So, who knows, maybe Ye will make it all on its own this time, and open those worldwide Yeezy stores he always dreamt of! Till next time fam!