Sneaker News Back in October of last year, the controversy surrounding Ye forced adidas to put an end to one of their most successful collaborative ventures. And while the Three Stripes did eventually reconcile with the artist, this would be but a temporary solution to the brand’s deepening financial losses.
Statements from current adidas CEO Bjørn Gulden would clear up the future of adidas Yeezy, as he confirms on a recent earnings call that the brand will not be selling Yeezy designs in the future. “The Yeezy product is something that he created, he’s the inventor of it and we have been his partner. To take his designs and sell them off later, which we technically legally could do, is not part of our strategy,” Gulden said. “Our task now is to limit the damage, get rid of the inventory, use the proceeds to good … and build a business later without Yeezy.”
While the Three Stripes profited heavily from the return of adidas Yeezy — netting roughly $560 million back in May alone — their focus moving forward will be the core business. While “slightly better than [they] expected,” sales in North America were down by 16%, a number that would likely have been larger if the brand had not continued selling Yeezy product. As additional releases are rolled out through August and beyond, adidas’ top and bottom line are sure to benefit. But once they officially rid themselves of all association with Ye, it’s unclear what will become of the sportswear icon’s very identity.
Info via Retail Dive
See more Sneaker News in your Google results,
ADD TO PREFERRED SOURCES
Opens Google to confirm your choice. It only changes your Google Search results.
