According to Hypebeast, Fashion United, Sole and other media, Adidas has agreed with Ye (formerly known as Kanye West) to sell some of the remaining Yeezy branded stock worth $500 million. The two companies have parted in October 2022 after West made a series of anti-semitic comments online in various podcasts and interviews. In November last year, Adidas hinted that it would soon start selling the designs without the Yeezy name. This coincides with reports from various media outlets that the new deal will not include new Yeezy designs and existing models will be stripped of the Yeezy branding.
On Feb. 9, 2023, Adidas warned of a drop in revenues in 2023 of approximately €1.2 billion if the company could not sell existing Yeezy inventory. The fall in operating profit was estimated at €500 million. Under the new leadership of Bjørn Gulden, Adidas is working out a strategy aiming at profitable growth in 2024.
