Adidas has announced that they are planning to sell Yeezy shoe designs under the ‘Adidas’ name moving forward.
Last month, Adidas had made an announcement that they would stop all production of Yeezy footwear and apparel with immediate effect. This announcement was made when they announced that they are terminating their partnership with Ye following his antisemitic comments on social media. On Wednesday November 9, Adidas’ Chief Financial Officer Harm Ohlmeyer announced that they were currently in the process of developing plans to “leverage the existing inventory.” He later confirmed that “Adidas is the sole owner of all design rights registered to existing products,” and that they “intend to make use of these rights as early as 2023.”
When Adidas announced that they are terminating their partnership with Ye they estimated a loss of approximately €250 Million on the company’s income for 2022. They are now saying that this may have been an overstatement and they believe that they will offset some of the losses against the savings from marketing the product, and paying royalties. It looks like the appointment of new CEO, Bjorn Gulden, has also given them the confidence that they will be in a position to turn things around come 2023.
How the public receives the news of Adidas selling the shoes without the Yeezy brand still remains to be seen. It’s hard to know if fans of the brand will still want to own the shoes without the Yeezy name, just for the love of the sneaker design, or if it’s the name that carried the weight and influenced buying decisions.