Adidas has terminated their contract with Ye formerly known as “Kanye West.” It was announced Tuesday morning that Adidas will no longer release Yeezy branded sneakers and also will not be paying “Ye” and his companies.
Adidas has been reviewing their partnership with “Ye” for the past month and finally decided it was time to cut ties. The reason for the termination is “Ye” made antisemitism comments, Some Adidas employees voiced their opinions and many fans were left shocked about what he had said.
Adidas had this to say in a statement about the termination of the Yeezy brand “adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership.”
Adidas and Ye partnered up in 2016 and signed a contract to be able to release and manufacture Yeezy clothing, shoes and ETC. The Yeezy brand made a big impact for Adidas as it made up 10% of its revenue which is equivalent to $2 Billion. The Loss of the Yeezy brand will have an impact on adidas. More information will be released on November 9, 2022 according to Adidas, but for now it is likely Adidas will be fine in the long run.
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