Adidas and Kanye Reach A Deal
Adidas and Kanye Reach A Deal. Kanye and Adidas recently reached a deal. Now, they can sell the leftover Yeezy merchandise.
Kanye and Adidas Agreement Reached
Adidas and Kanye Reach A Deal. According to sources, Ye and adidas have officially agreed to terms.
Allegedly, they get to sell and promote the existing Yeezy merch from their initial deal. But there will not be any new designs and continuity moving forward.
Seemingly, the remaining products are valued at $500 million. Of course, this provides room for the athletic brand to recoup their recent losses.
At no surprise, the tarnished partnership between the two caused them to point the finger of blame at Ye for their financial woes.
Especially since the total loss exceeds $1 billion dollars. TMZ reports they posses countless original Yeezy designs—but can’t release them.
Initially, adidas intended to repurpose the designs under a pseudonym. However, anyone who supports the brand knows it’ll never be as successful without West.
Thus, adidas took what they could get in order to avoid more financial losses. Frankly, before Ye the Nike competitor wasn’t as sought after.
So, he certainly did them a favor in joining forces.
At any rate, the statement concludes that Adidas could lose another $534 million. Mostly if they fail to repurpose Yeezy merch that remains.
CEO Bjørn Gulden states:
“The numbers speak for themselves. We are currently not performing the way we should.”
Also, Gulden believes 2023 will serve as a transitional year. Supposedly, Kanye and Adidas’ contact includes a clause stating the father of four receives a reduced fee if Yeezy designs are sold without his affiliation.
However, adidas confirmed they refuse to continue putting money in his pockets.
You might recall, Adidas and Ye parted ways after his repeat controversial statements on social media.
So far, Ye and his team have yet to confirm or deny the accuracy of this report.
Stay tuned as the story develops!