adidas has reportedly signed a new partnership deal with billionaire rapper Kanye “Ye” West that will see the German footwear and apparel giant repurpose the hugely patronised “Yeezy” inventory.
The reports come just weeks after a new financial guidance revealed that adidas will lose more than € 1.2 billion after severing ties with the “Donda” composer following his anti-Semitic tirades last year. In a Friday (February 10) statement, the company said that decision not to utilize the Yeezy inventory has accounted for the significant adverse impact of not selling the existing stock.
Meanwhile, adidas and Ye are back in business together, according to multiple social media reports. Popular sneaker YouTuber, Roszko, also confirmed the reports in a video posted on social media, saying “the partnership is solely to sell off the remaining Yeezy inventory and that no new designs will be produced.”
Though Kanye West and adidas are yet to confirm or deny such reports, the new alliance is believed to be beneficial to adidas as the company continues to deal with the financial repercussions from its split with West. Newly appointed Adidas CEO Bjørn Gulden said in a recent press release that the company is not performing how it should and needs to use 2023 to “make Adidas shine again.”
“The numbers speak for themselves. We are currently not performing the way we should. 2023 will be a year of transition to set the foundation for a growing and profitable company again. We need to put the pieces back together again, but I am convinced that over time we will make Adidas shine again. But we need some time.”
