Entertainment
Kanye West Back With Adidas After Reaching An Agreement
Kanye West Is Reportedly Back With Adidas
Back in October last year, Kanye West had a publicized fall out with Adidas which affected his ranking on Forbes list. The company terminated his contract which made him lose his billionaire status.
In a statement, the sportswear maker said it “does not tolerate antisemitism and any other sort of hate speech” and said that his recent comments were ‘unacceptable, hateful and dangerous.”
Adidas said they violated the company’s “values of diversity and inclusion, mutual respect and fairness.” Per the report, Sales and production of his Yeezy branded products have stopped as well as payments to Ye and his companies. Adidas said it will take a €250 million hit ($246 million) to its fourth quarter sales.
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Unluckily, this left Adidas with $520 million worth of unsold Yeezys. While Adidas can still sell Yeezy designs without the Yeezy logo on them, the $520 million of inventory in question still had Ye’s insignias. As a result, the brand was stuck with the inventory, leading to reports that the company would lose over $1 billion in revenue this year.
Additionally, Adidas has been looking to find ways to recoup its previous investment. This has now led to some very interesting rumors that have begun to ramp up on social media.
According reports reaching us at Dreddsworld, as well as reports on Twitter, Adidas and Kanye are back together again after reaching an agreement.
Nevertheless, it is important to note that neither Adidas nor Kanye West have released an official statement on any agreement.
Breaking: Apparently Kanye West & @adidas have reached a deal to release the remaining $500 million worth of Yeezy shoes slated for 2023. The renewed deal only focuses on existing inventory. pic.twitter.com/PWvgFhY93n
— Ari Ingel (@OGAride) February 24, 2023
Ye (fka Kanye West) & Adidas have reportedly reached an agreement to sell all remaining Yeezy inventory 👀 pic.twitter.com/Y6PcxlfNBr
— Kurrco (@Kurrco) February 24, 2023
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