Adidas will sell Kanye West’s Yeezy shoes under different name, CFO says
Global News
Adidas' chief financial officer Harm Ohlmeyer says the company is likely to continue selling Yeezy designs under new branding.
Adidas plans to sell more Yeezy designs in the new year, though rapper Kanye West, who created the popular shoes, will not be involved.
The German-based company cut ties with West, who legally changed his name to Ye, in October. Ye was dropped following intense public pressure for Adidas to end its partnership with the musician over his recent antisemitic outbursts.
During a call about quarterly earnings on Wednesday, Adidas’ chief financial officer Harm Ohlmeyer said the company is likely to continue selling Yeezy designs under a different product name.
“I can confirm that Adidas is the sole owner of all design rights related to existing product, as well as previous and new colorways under the partnership,” he said. “We intend to make use of these rights as early as 2023.”
Business Insider reported the Yeezy Slide could be an exception to this, as the musician owns the patent for that design.
Ye has not spoken publicly about Adidas’ claims they will continue to sell Yeezy designs.
Ohlmeyer said the company will “leverage the existing inventory,” though plans for the product and new branding are still in the works.
On Oct. 25, Adidas ended their partnership with Ye, and released a statement claiming that the company does “not tolerate antisemitism and any other sort of hate speech.”
