Report: Kanye West and Adidas Reach New Agreement Regarding Unsold Yeezy Sneakers

According to a new report, the German sportswear brand has made a new deal with the 45-year-old controversial rapper’s Yeezy to sell $500 million USD worth of its unsold Yeezy sneakers.

AceShowbizKanye West has reportedly reached some sort of agreement with Adidas following their fallout last year. According to a new report, the German sportswear brand has made a new deal with Ye’s Yeezy to sell $500 million USD worth of its unsold Yeezy sneakers.

It’s said that the deal will start to take place this year. The renewed deal allegedly only focuses on existing inventory which was left after Adidas cut ties with the controversial rapper over his anti-Semitic remarks and White Lives Matter controversy.

As for now, neither Adidas nor Ye has commented on the reported deal.

The reports of the new agreement between Adidas and Ye come after news that Adidas could lose up to $1.3 billion dollars in unsold Yeezy sneakers. Prior to this, it was reported that Adidas planned to spend millions to continue using Yeezy designs under a new name.

“Going forward, we will leverage the existing inventory with the exact plans being developed as we speak. It should refrain from relaunching items under its own brand, as they will always be synonymous with West, and this would likely result in muted customer demand,” Adidas Chief Financial Officer Harm Ohlmeyer said during a Q3 earnings call back on November 9.

The Adidas boss previously explained that Adidas was the “sole owner” of all rights to the Yeezy brand after launching the first pair of Air Yeezy sneakers in 2013. He said, “Adidas is the sole owner of all design rights registered to existing products. We intend to make use of these rights as early as 2023. We own all the versions and new colourways. It’s our IP. We are working through all the options. When the time is right we will be more specific.”

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