According to the company's earnings call, Adidas will release more Yeezys, but without Ye, next year.
The partnership between Adidas and Ye began in the year 2013). The relationship was successful but turbulent. Adidas ended their relationship with the musician and fashion designer after he made antisemitic comments and was criticized by the public.
In June, Ye objected to the release of slides that looked like the YEEZY, calling them a fake YEEZY made by Adidas.
He wrote that he was not standing for the blatant copying of the slide. Adidas created "Yeezy Day" without his approval and did not create physical retail stores dedicated to his brand.
Adidas owns the designs it made in partnership with Ye, according to the company's chief financial officer.
The sole owner of all design rights is Adidas. We intend to take advantage of these rights as soon as possible.
Ohlmeyer declined to elaborate on Adidas' plans beyond repeating the company owns all the versions and new versions. Our intellectual property is ours.
—sockjig (@sockjig) November 9, 2022
Ye has a patent for the Yeezy slide.
Ohlmeyer was asked if there was a risk to the company if it continued to release products with no artist's support.
Ohlmeyer said they are working through all the options. We'll be more specific when the time is right.
The shoes will likely sell, but won't generate the same amount of hype as before.
The company said it would take a $247 million hit this year. The report was in line with the forecast. Ohlmeyer said the company's revenue would be lower than expected.
Adidas will save $302 million in 2023 because of royalties and marketing costs not being paid to it. When he left Nike for Adidas, he criticized the company for not paying his royalties.
—Vikram Ramalingam (@VRAMM17) November 9, 2022
West said that Nike wouldn't give him royalties because he wasn't a professional athlete.
Ohlmeyer was asked if Adidas would destroy existing merchandise or release it at a later time.
Ohlmeyer said that they needed to review what the best options were. We are going to be more concrete when the time is right.
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