Adidas said Wednesday that all of the inventory associated with the sportswear brand’s collaboration with Kanye West, popularized by the Yeezy sneaker, has been sold.
The rapper inked a profitable deal — valued at over $1 billion — with Adidas in 2013 that dramatically ended when Adidas severed ties with West, also known as Ye, in October 2022 over his antisemitic comments. The termination of that partnership impacted the company’s bottom line by over $246 million — “Adidas does not tolerate antisemitism and any other sort of hate speech,” they said at the time. “[West’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.”
The partnership between Adidas and Kanye began in 2013 and was valued at over $1 billion. However, the relationship unraveled in October 2022 when the company cut ties with Ye over his antisemitic remarks. Following the termination, Adidas began liquidating its remaining Yeezy stock in May 2023, pledging to donate a portion of the proceeds to organizations combating antisemitism, including the Anti-Defamation League. At the time, Adidas released a statement reinforcing its stance, saying, “Adidas does not tolerate antisemitism and any other sort of hate speech. [West’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.”
Despite losing his deal with Adidas, Ye continues to use the Yeezy name to promote merchandise. Most recently, he sparked further controversy by selling a t-shirt featuring a swastika, which led to Shopify shutting down his online store. With Adidas officially moving on from Yeezy, the brand now looks to rebuild its reputation while Ye continues to navigate the fallout from his remarks and business decisions.
Source:Â Variety