A new agreement between adidas and Kanye West has been reached following the official termination of their partnership, reports indicate. Rumors circulating on the Internet and social media are now noting that the German sportswear brand has carved out a new deal with West to sell $500 million USD worth of its remaining YEEZY sneakers.
The latest word on Kanye West’s partnership with adidas comes after news that the brand could lose up to $1.3 billion dollars in unsold YEEZY sneakers. Though there have been rumors that adidas planned to spend millions to continue using YEEZY designs with any branding after parting ways, it seems as though the two parties have now reached an agreement that will see only select non-branded sneakers produced going forward. Stay tuned for more details as the story develops.
After making antisemitic remarks, Kanye West lost his partnership with Adidas. The company said it would try to repurpose some of the Yeezy-branded merchandise without the Yeezy branding. The fallout extended to Gap, which removed all Yeezy Gap merchandise from its stores. Footlocker, TJ Maxx and luxury fashion house Balenciaga also broke ties with Ye and stopped selling Yeezy merchandise.
“Demand for Yeezys has surged 30% since last October-November,” said John Mocadlo, CEO of Impossible Kicks said to CNN. He said Yeezy sneakers are among the top three most-popular brands on the platform after Jordans and other Nike footwear, including Dunk and Air Max shoes. He continued, “We sell about 30,000 sneakers in total every month. Probably 6,000 to 7,000 of those right now are Yeezys.”