Adidas to Sell Yeezy Products Under New Name After Split With Kanye West – The Hollywood Reporter

Following Adidas’ highly publicized split from Kanye “Ye” West last month after he espoused anti-Semitic sentiments on a multi-stop media tour, the sportswear company plans to do what many have speculated: to continue selling rebranded Yeezy products without Ye.

On the quarterly earnings call this morning, According to this Insiders, Adidas shared their intention to release more Yeezys without the artist, who began their business partnership with the company in 2013. Adidas chief financial officer Harm Ohlmeyer confirmed in a company public statement released in late October, “Adidas is the sole. owner of all registered design rights for the existing product. We intend to use these rights as early as 2023.”

These rights extend not only to new versions of shoe silhouettes but also to colorways, which are considered the intellectual property of Adidas as the manufacturer and distributor of Yeezy products. (You were essentially the creative director.)

The Yeezy Slide is the only design that Adidas has been unable to release because Ye owns the patent. It was filed in 2018 under the musician and designer’s holding company Mascot Holdings, Inc. and Given in 2020 Ye is listed as the inventor.

Adidas’ annual revenue this year will be roughly $502 million lower than projected, a Nov. 9 earnings call revealed. The company previously announced the separation from Ye in a statement, saying all the complications will set back approximately $247 million.

As reported InsidersThis will balance out slightly next year, with Adidas saving $302 million by no longer paying for Yeezy royalties and marketing.

Ohlmeyer said the company is “working through all options,” and when asked if Adidas would kill or simply delay the release of existing merchandise, shared, “We’ll be more concrete when the time comes.”

Leave a Comment