After months of roundabout news, with Adidas terminating the contract with YEEZY in October last year, wondering what to do with their $500million of overstock, and Adidas being sued by its investors for money they have lost in the previous year, we have come full circle. Adidas has agreed with Kanye West’s YEEZY to sell its footwear again.
Adidas Partnering With YEEZY, Again
After months of issues, financial loss, lawsuits, and rumours, Adidas has decided to once again enter a partnership with Kanye West to be able to sell the leftover YEEZY stock they have piling up.
Their original contract was terminated in October of 2022. Since then, the German sneaker company has lost over $500 million, which they tie directly to the termination of the contract.
The company was losing money by the minute and sitting on over $500 million of YEEZY stock that they didn’t know what to do with. There were rumours that they were considering burning the stock, rumours that they wanted to donate them, and rumours that they wanted to repurpose the designs under a different brand. All these ideas came with their own risk, and they have reached a better conclusion.
The news of this new (re?) partnership came to us through a long-time reliable source on all things YEEZY, YEEZY MAFIA. They shared the information on Twitter just this morning, explaining the immediate terms of the contract.
“ADIDAS WILL START SELLING YZY AGAIN | PART OF PROCEEDS WILL GO TO INTERNATIONAL ORGANIZATIONS | YE WILL BE ENTITLED TO A 15% COMMISSION ON ALL GOODS SOLD” – YEEZY MAFIA (@theyeezymafia), May 11, 2023.
Nothing has been confirmed by either Adidas or Kanye West yet, so anything could be subject to change until we hear it straight from their lips.
Could This Pave the Way for A Long-Term Partnership?
The main objective of the new partnership that Adidas and Kanye West have agreed to be selling the remaining Adidas YEEZY inventory of $500 million that the company has been sitting on, meaning that once the stock has been depleted, the agreement will probably expire as well.
Some of the stock that Adidas is currently sitting on includes newer designs that had yet to come out and highly sought-after sneakers like the YEEZY BOOST 350 “Pirate Black” re-release.
For now, these limitations are where the agreement will stay. Still, despite the lawsuit with disgruntled investors, Adidas seems open to a long-term partnership in the future. The brand and the rapper still seem amicable enough, and the whole reason the partnership was terminated in the first place was Ye’s antisemitic statements.
Whether or not this new agreement will become more long-term and permanent will have to be answered in the future. So stay tuned to keep up with the news on the situation.
- Adidas and Kanye West have buried the hatchet and are again entering a partnership.
- This time, the partnership is just to sell the existing YEEZY stock that Adidas has stored up, to donate proceeds to international organizations, and to give Ye his promised commission.
- We are still awaiting official confirmation of whether the company will enter a more permanent contract with Ye again.