Last year, Addidas parted ways with Kanye West to protect their brand after the rapper constantly made many controversial statements. Initially, this move sounded like an excellent idea for Adidas, but the company quickly learned Kanye West fans would not continue purchasing Yeezy designs without the artist attached to them. Today it’s being reported that Adidas has made a new agreement with Kanye West.
Despite Kanye West’s public image being at an all-time low, fans are reportedly super loyal and refusing to buy the repurposed Adidas he designed that are now being sold without his logo. The company reported on February 9th that it could experience up to a billion dollars in losses this year due to people simply not purchasing the line of kicks. The move to distance themselves from the West was in solidarity with the Jewish community. It also helped the company save millions in royalties since they no longer had to pay West.
Adidas, however, learned very quickly this may be even worse than keeping Kanye signed. Unfortunately, without his stamp of approval, people are simply not willing to shell out money, and it is seriously taking a toll on the sneaker giant. Retail expert and managing director at retail consultancy Strategic Resource Group Burt Flickinger told CNN, “There really are no good options for this distressed brand that sat somewhere between prestige and luxury.”
The ongoing fallout from Adidas’ decision to end its deal with Ye, the rapper formerly known as Kanye West, could see the company report a loss of nearly $750 million — its first annual loss in over 30 years. https://t.co/ogwbuLx9HI— Yahoo News (@YahooNews) February 10, 2023
Fans online seem to have seen this coming and feel that Adidas rushed into their decision to cut ties with West and are now seeing the error in their ways. “It’s gon be a lot bigger than that when they realize nobody wants Adidas janky designs &they can kiss designer Collaborations goodbye once Kanye starts another fashion journey. They just need to ask Nike, and the only reason they survived is because they have culture classics jordans,” said one person.
Another fan said, “Kanye changed Adidas and the fashion landscape entirely, whether you like to admit it or not. Adidas was getting carried by that dude.” It appears that West might get the last laugh after all, as fans speculate that he will rebound into another partnership soon and continue his fashion empire elsewhere. “Adidas really hurt themselves on a business standpoint,” concluded another fan. Well what if Adidas was willing to bring him back into the fold? The last few days have seen reports surfacing that they have brought him back on to help save the sales they lost after cutting him out. DJ Akademiks shared a tweet that says a new deal is already in place.
Under it, they are looking to sell their existing stock of sneakers. No new designs are being issued and there are no plans for future collaborations. It appears the goal is simply to get Kanye back in the forefront to help sell what they could not get people to buy without him. “Wait did Kanye still win?” asked one fan? “Imagine getting rid of him, losing money, then needing him again😂 Adidas is an L,” said another. The company reportedly has over $500 million worth of unsold Yeezys. The company was making moves to manufacture more sneakers without his insignia but it proved to be too expensive in addition to the loss they already took.
Whatever the case, none of this has officially been confirmed by Adidas or West. Kanye initially began his tirade on “jewish controlled media” while trying to get out of his deals with Adidas and The Gap. At the time he complained about lack of creative control and issues with pricing. Not everyone believes West should go back. One fan said, “We good. They wanna use his likeness for black sells. It’s over. Let it go.”