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LONDON (AP) — Adidas said Wednesday that it’s donated or is planning to give away more than $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes last year after it severed ties with Ye, the rapper formerly known as Kanye West.
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The German sportswear brand had 1.2 billion euros ($1.3 billion) worth of popular Yeezy sneakers piled up in warehouses after it broke off its partnership with Ye in October 2022 over his antisemitic and other offensive comments on social media and in interviews.
Adidas decided to sell some of the remaining shoes in batches, with two releases last year and another that launched late last month, and donate a portion of the proceeds to anti-hate groups.
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The company has made donations to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd.
Net sales of what’s left of Adidas’ former banner line of sneakers brought in about 750 million euros last year, compared with over 1.2 billion euros in 2022, the company reported.
Of the 300 million-euro profit it earned from the sales of Yeezy shoes last year, the company said it had given away or planned to donate over 140 million euros (about $152 million).
Adidas said deciding to sell a big chunk of its Yeezy inventory and improved operations helped it pull out operating profit of 268 million euros last year, a nearly 60% plunge from the previous year. It blamed a high tax rate for ending the year with a net loss of 58 million euros, a massive turnaround from net income of 254 million euros in 2022.
“Although by far not good enough, 2023 ended better than what I had expected at the beginning of the year,” said CEO Bjørn Gulden, who took over the top job last year.
Looking forward, Adidas expects to make about 250 million euros in sales of the remaining Yeezy shoes this year.
But the Herzogenaurach, Germany-based company points to North America as a persistent problem spot, expecting revenue to decline in the mid-single digits this year and grow everywhere else. It said that North America was “particularly affected by the negative Yeezy impact” and that revenue there dropped 16% last year.
Adidas expects to almost double operating profit to about 500 million euros this year despite “macroeconomic challenges and geopolitical tensions.” It plans to further scale up popular shoe lines like Samba that are seeing “extraordinary demand,” launch new ones and get a boost from major sports events like the Paris Olympics this summer.
Adidas shares were up slightly in late morning trading.
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Source: @kanyewest / Instagram
adidas has just started the process of selling off their remaining Yeezy stock via the raffle system on their Confirmed app. But we don’t think Kanye West for one will be attempting to secure a pair as he took to social media to discourage his fans from buying into the Yeezy hype.
Though adidas has been slowly selling off their remaining Yeezy inventory since last year without a peep from Kanye West, apparently, this time around, Yeezy felt a way about the Yeezys being sold in 2024. Not too long after adidas announced that the raffles were open for what could be the final round of Yeezy drops, Kanye West took to his IG page with a message for both adidas and his faithful fans. “Anybody who loves Ye would not buy these fake Yeezys. I never made these color ways, I’m not getting paid off of them and adidas is suing me,” Kanye said.
We lowkey thought this colorway was made to match the titanium dentures that Kanye’s been sporting for quite some time now. We guess not.
Aside from the post on his IG page, Kanye dropped a video talking about his situation with adidas reiterating that they’re currently suing him for $250 million and not giving him a cut of the sales from his sneaker line. Saying that adidas is “raping him” via his business contract, Kanye hopes that his followers turn their back on the three-stripe brand in his name and let these sneakers brick upon arrival.
Whether or not this will dissuade sneakerheads from purchasing anymore Yeezys is anyone’s guess. But at this point, we feel like adidas has moved enough of their remaining Yeezy stock to hold a few L’s here and there.
Check out Kanye West’s video below, and sound off in the comments section with your thoughts about the situation.
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Source: adidas / adidas
Kanye West might be on the outs of pop culture due to his wild antisemitic rants, but his Adidas line of sneakers still move like we were living in the pre-MAGA era out on these streets and there’s still more to come.
According to Highsnobiety, Adidas will continue to unload the remainder of their Yeezy stock in the coming months as they did throughout 2023 with word being that this will be the last of it’s inventory before Yeezy is officially done at the three stripes brand. While many assumed that anything Kanye related would brick upon release due to the backlash he garnered for his antisemitic comments in 2022, when Adidas began to drop their Yeezy stock last year, the line immediately sold out.
Now that they’ve seen there’s still a market for the Yeezy line, Adidas is looking to sell whatever’s left before the end of the year though no release date has been set as of yet.
Highsnobiety reports:
According to YEEZY-obsessed leakers, though, the restock is nearly upon us. They’re certain that it rolls out throughout all of March 2024, reportedly beginning March 7 until the month’s end.
And, of course, they’ve already got the YEEZY droplist loaded up.
adidas’ final YEEZY drop will reportedly include the a variety of classic shoe styles, including the YEEZY Slide in Dark Onyx, Salt, and Slate Grey, YEEZY BOOST 500 in Stone Salt and Taupe; YEEZY FOAM RNNR in Granite and Carbon.
Other sneakers will likely join the droplist as the month goes on.
Once Adidas finally unloads the remainder of their Yeezy stock, that might be it for Kanye West’s run in the sneaker industry. Though fans have been speculating a return to Nike as he’s been spotted rocking Air Force 1’s and Nike gloves as of late, we seriously doubt that Nike would take on the backlash and controversy that would surely follow Kanye West back to the swoosh brand.
What do y’all think of Adidas selling the remainder of their Yeezy stock? Are you going to copp or nah? Let us know in the comments section below.
The National Hockey League (NHL) and Adidas have collaborated with Justin Bieber‘s fashion brand Drew House on designs for the 2024 NHL All-Star jersey collection.
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On Saturday (Jan. 13), the NHL announced that the vibrant new jerseys will be worn by the league’s players during the NHL All-Star Game at Toronto’s Scotiabank Arena on Feb. 3. The Toronto Maple Leafs and the city of Toronto will host the 2024 NHL All-Star Weekend from Feb. 1-3.
The 2024 NHL All-Star jersey collection includes four versions of the jersey (one for each All-Star team) in four colors: blue, red, yellow and white. The NHL shield will feature bubble letters and enlarged dimensions, and the crest is one of the largest to be included on a NHL jersey.
NHL, Adidas and Bieber’s Drew House previously collaborated on a reversible alternate jersey for the Maple Leafs.
“After the tremendous success of our first NHL, Adidas and Drew House collaboration for the Maple Leafs’ Next Gen jerseys, we have looked forward to another opportunity to bring a bold, fashion forward look to NHL jerseys,” Brian Jennings, NHL’s chief brand officer and senior executive VP, said in a statement. “The All-Star Weekend in Toronto is the perfect setting for a fresh perspective on the All-Star jersey. The vibrant colors in this year’s All-Star collection are both youthful and classic and offer the perfect complement to the young NHL talent set to meet in Toronto for this year’s NHL All-Star Weekend.”
Nic Corbett, director of sports marketing and hockey at Adidas, added: “Since our inaugural year of collaboration with the NHL, Adidas has not only elevated but redefined the benchmarks for performance, sustainability, storytelling and design inherent in the iconic NHL All-Star jersey. This season, our partnership with the NHL and Drew House presents a distinctive opportunity to transcend conventional uniform design, seamlessly merging the realms of sport and youth culture. The added layer of enthusiasm stems from the fact that this extraordinary event unfolds in a hockey-obsessed market, amplifying the excitement to unprecedented heights.”
The NHL All-Star jerseys are currently available for purchase through adidas.com and nhlshop.com, as well as other online and physical retailers.
See designs for the 2024 NHL All-Star jersey collection below.
2024 NHL All-Star jersey collection
Tyrell Hampton
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Source: Yeezy / YEEZY
It seems that YEEZY season is approaching. The brand has unveiled its first product offering since parting ways with adidas.
XXL is reporting that the house that Kanye West built is back. On Thursday (Dec. 14), the “Otis” rapper took to X, formerly Twitter, to announce that his polarizing sock shoe will be going on preorder. According to the post, the YZY POD is described as the “foldable future of footwear.” The screenshot billed it as “Our first product since liberation from Adidas goes on presale today, $200 at yeezy.com. Accept no imitations.”
The one piece goes all the way to the calf, and it seems to take the sock sneaker to full sock with your typical sneaker support on the outsole.
Even though this is the shoe’s formal debut, the YZY POD has been spotted on foot for some time. The rapper has been sporting the infamous slip-on, or just socks with no shoes, most of 2023 to both the dismay and support of his core fanbase. The YZY POD is available in three sizes in a black colorway. You can register for the presale here. At this time, it is unclear when it will be released.
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Source: Phillip Faraone / Getty
Fans of Jerry Lorenzo’s Fear of God attire have been patiently waiting on his collaboration with adidas to drop and though we still have a minute to go before that coveted release date, the man has opened up about his latest collaborative collection.
In an interview with GQ, Lorenzo spoke about the sneakers he has in store for his faithful followers and while fans are getting antsy about waiting so long to get ten toes down in his latest footwear, the designer admitted that “We needed a little bit more time for this to be exactly what I had dreamt for it to become,” he says, “which is just a hundred-percent pure performance.”
Most sneaker enthusiasts remember a time when Jerry Lorenzo was doing his thing over at Nike in 2018 and seemed destined to be a part of the swoosh brand for years to come. Things were going so well that Nike and Lorenzo were in talks to launch Athletics and continue their relationship only to get an upcoming meeting canceled just before he was set to travel to Portland to has out the details of the proposed sneaker line.
GQ reports:
He was taken aback. “I thought I was paving the way and putting numbers on the board in order for [Athletics] to happen,” he says. He felt he had become stuck in corporate limbo, and he was preoccupied by questions about how Nike perceived him and his work and the collaboration (which Lorenzo characterizes as “obviously successful”). He called the final shoe he designed for Nike “The Question.”
In mid-2020, Nike dropped him. Lorenzo says he still doesn’t know why. “I [was] just in this really bad place,” he recalls. “All the shoes sold out. I thought I performed well.”
Undeterred, Lorenzo called New Balance and Reebok. He had conversations with “some sneaker brands overseas” and had offers on the table. Finally, he reached out to Adidas through contacts at Yeezy, where he’d consulted on early product designs. “They got in contact with me shortly after,” he says, and a deal came together that would launch Athletics and put Lorenzo atop Adidas Basketball.
The Adidas x Jerry Lorenzo partnership was announced in 2020 and since then he’s been working on the collection and though some of the pieces have leaked on social media over the years, nothing has been released to the general public for consumption. Hypebeasts are getting antsy out on these streets.
Though Adidas announced that Lorenzo was no longer down with their basketball division due to “creative differences” on kicks that he isn’t 100% behind putting out. Still, Lorenzo and the three-stripped brand are chugging along and from the sound of things, what they’re about to put out will be more than just a fashion statement, it’ll be for sports forreal.
“Simply, I don’t see any kids walking around with basketball shoes unless they’re playing in ’em. I don’t see any kids walking around with turf baseball shoes unless they’re working out.”
He wants to change that. “Most basketball shoes right now, they’re just too bulky,” he says. “You put ’em on with a pair of jeans and you look crazy.” Lorenzo grew up drooling over Air Jordans and Agassi pro models, the sneakers he and his friends hooped in then wore to school the next day. “There was a time when these shoes transcended sport, and I still think it’s possible, even though innovation has taken these shapes and silhouettes far from that place,” he says. “I think there’s a way through design to bring those two languages back together.”
He ain’t lying, you really can’t ball in a pair of Air Jordan 1’s, 3’s or 4’s these days. They hurt like a MF.
But luckily we’ll be getting to see what Jerry Lorenzo and Adidas have been cooking up in the lab after all these years sooner than later and if anything we’ll know just how a little patience and perseverance can pay off.
“I can happily say we’re on the right path for it to be exactly what we dreamed for it to be. By the second half of 2024, you’ll see full performance shoes that are light, playable and transcend the court. Nothing will be compromised.”
Still, even by his sky-high standards, he’s pretty happy with the sneakers that he can finally show the world. He picks up the tan pair again. “You can play in these, but would I say it’s the best basketball shoe in the market? Probably not. But is it one of the best looking sneakers?” He pauses, smiles, admires his handiwork. “Maybe.”
We can’t wait to see.
Source: Jonathan Leibson / GettyAlong the way to becoming a rap star, Kanye West also became a poster child for the tolerance of otherwise inexcusable behavor. But bumrushing the MTV VMA’s stage or calling slavery a choice is light work compared to his shenanigans at adidas, which were recently exposed by a lengthy New York Times article investigating his time at the brand.Nevertheless, the New York Times learned that the German sportswear brand was putting up with Ye’s antisemitic rhetoric basically since the start of their almost 10-year business relationship. Obviously, Mr. West made them a gang of money, so don’t expect many tears to be shed on their behalf.The NY Times found evidence that Ye allegedly routinely made antisemitic comments, sexually offensive comments, and displayed out of pocket behavior that still wasn’t enough to stop execs from cutting ties with the artist. And best believe, they have the receipts.This article is the fullest accounting yet of their relationship. While some details have been reported earlier, The Times interviewed current and former employees of Adidas and of Mr. West, and obtained hundreds of previously undisclosed internal records — contracts, text messages, memos and financial documents — that reveal episodes throughout a partnership that was fraught from the start.Some of the documented antics have been told before, others are new revelations and low-key mind-blowing. We had to compile some of the most blatant tomfoolery documented in the story, for archival purposes. See below.
1. Swastika Ye
Source:Getty
Kanye West was so unimpressed with the initial batch of designs presented to him by adidas when they first joined forces in 2013 that he took a marker and drew a swastika on one of the illustrations. We’re not kidding.
Per the NY Times:
“The Adidas employees, thrilled to get started, had arrayed sneakers and fabric swatches on a long table near a mood board pinned with images.
But nothing they showed that day at the company’s German headquarters captured the vision Mr. West had shared. To convey how offensive he considered the designs, he grabbed a sketch of a shoe and took a marker to the toe, according to two participants. Then he drew a swastika.”
Bruh…
HOLLYWOOD, CA – JUNE 28: (L-R) adidas CMO Eric Liedtke and Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye West announce the future of their partnership: adidas + KANYE WEST. (Photo by Jonathan Leibson/Getty Images for ADIDAS) photography,arts culture and entertainment,horizontal,usa,topix,bestof,waist up,california,males,hollywood – california,milk studios,adidas,partnership – teamwork,ye – musician
2. Kiss Hitler
Source:Getty
No good can come from a Hitler obsession. Allegedly, Ye told a Jewish employee they should kiss a photo of Hitler. The employee in question, revealed to be Jon Wexler who helped bring him into the adidas fold, yelled at Ye.
Per the NY Times:
“He later advised a Jewish Adidas manager to kiss a picture of Hitler every day, and he told a member of the company’s executive board that he had paid a seven-figure settlement to one of his own senior employees who accused him of repeatedly praising the architect of the Holocaust.”
LOS ANGELES, CA – FEBRUARY 17: Kanye West onstage at adidas Creates 747 Warehouse St. – an event in basketball culture on February 17, 2018 in Los Angeles, California. (Photo by Neilson Barnard/Getty Images for adidas)
3. Roshe Homicide Confirmed
Source:Getty
Sneakersheads were saying this from jump the adidas Yeezy 350 got the then super popular Nike Roshe outta here.
Per the NY Times:
“First came a suede high-top, followed by the Yeezy Boost 350 — a sleek sneaker inspired by Nike’s Roshe Run and nicknamed “the Roshe killer” inside Adidas. It had a flat front, not the standard rolled toe that Mr. West disdained. It put a Yeezy spin on Adidas innovations: Boost foam, a new cushioning technology, in the sole, and a patterned knit fabric on top. The shoe wasn’t suited for running or sports, but complemented the athleisure apparel that was coming into fashion.”
PARIS, FRANCE – JUNE 26: Buyer from ANROSA boutique Romain Rabiller wears Adidas by Kayne West sneakers on day 3 of Paris Collections: Men on June 26, 2015 in Paris, France. (Photo by Kirstin Sinclair/Getty Images)
4. Porn Ye
Source:Getty
Ye is a well-documented fan of pornography. However, it’s not the best of looks in the workplace. For example:
Per the NY Times:
“Mr. West continued to show pornography to Adidas employees, and chose porn actresses to appear in Yeezy promotional photos, according to several people who worked with him. They also said they had seen him drinking at work and noticed that he sometimes went days with little or no sleep.”
LOS ANGELES, CA – OCTOBER 14: Kanye West is seen on October 14, 2022 in Los Angeles, California (Photo by MEGA/GC Images)
5. Morals?
Source:Getty
Ye’s then manager, Scooter Braun, tried to fight it, but adidas insisted on and was a granted a moral clause when his contract was re-upped in 2016. Talk about “CYA.” But, Ye got a 15% royalty and $10 million guaranteed annually.
Per the NY Times:
“Mr. West eventually conceded on Adidas’s terms for termination: felony conviction, bankruptcy, 30 consecutive days of mental health or substance abuse treatment, or anything that brings “disrepute, contempt, scandal” to him or tarnishes Adidas, according to a copy of the contract obtained by The Times.”
HOLLYWOOD, CA – JUNE 28: Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye West announce the future of their partnership: adidas + KANYE WEST (Photo by Jonathan Leibson/Getty Images for ADIDAS)
6. Break
Source:Getty
After signing his new adidas contract in May 2016, Kanye West would infamously suffer a mental break that required hospitalization later that year. The NY Times got some new details about when he was committed soon after he canceled his tour.
Per the NY Times:
“Harley Pasternak, his friend and former trainer, arrived at the musician’s house in Los Angeles that week to find him consumed with paranoid thoughts, including that government agents were out to get him. He was writing Bible verses and drawing spaceships on bedsheets with a Sharpie, while a handful of worried friends and employees lingered nearby. When Mr. Pasternak encouraged him to come to a nearby office he owned, Mr. West emerged with suitcases packed with pots, pans and Tupperware.
Mr. Pasternak, who later provided an account of the incident in a deposition for Mr. West’s touring company as it sought insurance payouts for the canceled shows, took him to the office. A psychiatrist from U.C.L.A. Medical Center and another doctor were among those called to the scene. After observing Mr. West’s behavior escalate — at one point he threw a bottle, breaking a window — the doctor called 911.”
Kanye West performing (Photo by Swan Gallet/WWD/Penske Media via Getty Images)
7. Blame Farrakhan
Source:Youtube
Ye’s relationship with Nation of Islam leader Louis Farrakhan has been shaky. But in 2013 Ye let off some potentially antisemitic remarks when he told The Breakfast Club that Jews had “connections” but he said much more egregious rhetoric behind closed doors.
Per the NY Times:
“He was becoming closer to Mr. Farrakhan. When Mr. West had drawn criticism that he was perpetuating dangerous stereotypes in 2013 by saying “Black people don’t have the same level of connections as Jewish people,” the minister quickly came to his defense. The rapper went on to help him with a documentary about the Nation of Islam. His manager, Mr. Braun — the grandson of Holocaust survivors — told others in the industry that Mr. West made him attend a private dinner with the minister.”
Mr. West also told some Adidas colleagues that he admired Hitler’s command of propaganda, viewing him as a master marketer.”
In 2018, he disclosed to Mr. Liedtke and another manager that he had paid a seven-figure settlement to the outgoing chief executive of his Yeezy operation, who had accused him of commending Hitler and creating a hostile workplace, according to someone familiar with the conversation.”
8. Kanye West x TMZ edit
Source:Youtube
We all know that Kanye West told TMZ that he thought slavery sounded like a choice, and the firestorm it set off. It turns out that he also said that we should both sides Nazis in the same interview, but his manager managed to get it removed.
Per the NY Times:
“During the TMZ interview in which Mr. West made the slavery comment, he said it was important to love everyone, including Nazis. Before the interview aired, Mr. Braun phoned Harvey Levin, founder of the celebrity news website, to discuss the Nazi reference, according to someone with knowledge of the call. In the end, the remark was cut but was disclosed in 2022 by a former journalist from the site. TMZ declined to comment.”
9. Shoe Me The Money
Source:Kanye West Purchases Second City In Wyoming To Bring Yeezy Production To The US
Apparently, Ye wasn’t a fan of traditional advertising. Instead, he wanted the cash, and he would take it from there.
Per the NY Times:
“Mr. West, who objected to advertising and other traditional promotion, had insisted that Adidas’s money was better spent on anything that drew public attention to him. So the executives had agreed to replace the Yeezy marketing budget with a $100 million annual fund that Mr. West could spend with less oversight.”
10. The start of the ending…
In September 2022 while Ya made wild public demands of adidas, he thought it was a good idea to show the execs he was meeting with pornography to bolster the point that he was being exploited. That didn’t work out too well.
11. The Aftermath
Source:Getty
Despite officially cutting ties with Ye on October 25, 2022, he was still entitled to arbitration. Part of the agreement with adidas was to release the remaining stock of adidas Yeezy product, reportedly worth north of $1 billion. While part of the revenue goes to the Anti-Defamation League and an organization created by George Floyd’s family, most goes to adidas, and Ye gets 15% of that. Through June, they made a cool $437 million, which also pushed adidas into better financial footing. What a time.
But most of the revenue would go to Adidas, and Mr. West was entitled to royalties.
LONDON, ENGLAND – SEPTEMBER 17: A fashion week guest seen wearing red adidas yeezy shoes, outside paul and joe during London Fashion Week September 2022 on September 17, 2022 in London, England. (Photo by Jeremy Moeller/Getty Images)
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It’s official! Ivy Park and Adidas just dropped the final installment of their ongoing collaboration on Thursday (Oct. 12) — and it’s the perfect end of “Summer Renaissance.” Titled Ivy Park Noir, the latest collection features an all-black clothing line (including some chic leggings) inspired by the film-noir genre.
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Beyoncé offered a hint of what to expect in the latest collection while wrapping up her record-breaking Renaissance tour. In an Instagram post from Friday (Oct. 6), she announced the new drop in a photo of herself showing off some of the fresh styles on stage.
“Felt great to design and wear the final IVY PARK drop (with adidas👀💃🏾🕺🏾🪩) on the final show of the RENAISSANCE WORLD TOUR. The Blackout. IVY PARK NOIR dropping Oct 12,” she wrote in the caption.
Expect a mix of pieces including casual sneakers, over-the-knee boots as well as apparel made from jersey, mesh, spandex leather and more materials that aim to “[champion] the human form, through silhouettes that epitomize power, freedom and individuality,” according to a press release. Prices will range from $35 to $350.
If you’re debating what to pair it with, consider topping the pieces off with your Renaissance tour merch (especially if you plan to get tickets to the Renaissance Tour movie).
Previous collaborations have sold out within minutes, which means you won’t want to debate too long over whether or not to snag some pieces for yourself.
Keep reading to shop our favorite picks or view the entire collection here.
Adidas
If you’re in the market for something soft but elevated, then add the velvet bodysuit to your cart ASAP. It’s versatile enough to be dressed up or down, and will help create a seamless appearance whether you wear it under jeans, trousers or track pants.
Adidas
The new pleated miniskirt comes in a black leather material with the brand’s logo across a stretchy elastic band. You can easily wear it with a leather jacket or your go-to sports bra for an edgier take on the classic tennis skirt.
Adidas
Need a fresh pair of kicks? These knitted sneakers bring style and support with a soft yet breathable upper and cushioned inner to keep your feet comfy whether you’re racing to the train or just grabbing a bite with friends.
Adidas
Elevate your outfit with a pair of platform boots that are not only chunky, but feature a long over-the-knee look that’ll pair well with miniskirts and black tights.
Adidas
Treat yourself to two looks for the price of one with this reversible track jacket that comes with two front pockets, a hood and an insulating material to keep you cozy yet stylish.
For more product recommendations, check out our roundups of the best platform heels, pleated skirts and denim dresses.
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Source: MEGA / Getty / Kanye West
adidas CEO has an interesting take on Kanye West and his penchant for saying blatant antisemitic things on social media.
Bjørn Gulden, chief executive of adidas, is finally speaking on the fallout between Ye and his company after the rapper couldn’t stop being an antisemitic clown on his social media accounts.
Spotted on Deadline, Gulden sort of put on his cape for the “Good Life” crafter whom he had to cut ties with, bringing to an end their ridiculously successful partnership, claiming he believes West didn’t mean any of the offensive things he said during a recent episode of the Norwegian podcast In Good Company.
Per Deadline:
“I think Kanye West is one of the most creative people in the world. Both in music and what I call street culture,” Gulden said after being questioned about West on the Norwegian podcast In Good Company.
“He’s extremely creative and has together with Adi, created a Yeezy line that was very successful. And then, as a creative person, he made some statements which wasn’t that good. And that caused Adi to break the contract and withdraw the product. Very unfortunate because I don’t think he meant what he said, and I don’t think he’s a bad person – it just came across that way.”
Word?
Gulden also noted that it was “very sad” when speaking about his company losing “one of the most successful collabs in history.”
He also notes that what happened with Ye could happen with any celeb or athlete because of how unpredictable working with third parties is.
“When you work with third parties, that could happen. It’s part of the game. That can happen with an athlete — it can happen with an entertainer. It’s part of the business,” he continued.
What Has Ye Been Up To?
As of right now, Ye doesn’t have any collaborations. His comments cost him business dealings with Balenciaga, adidas CAA, and Gap, whom he distanced himself from before they could give him the boot.
You can find Ye running around the country trying to make his Yeezy Socks and dressing his wife, Bianca Censori, in nothing but pantyhose a thing.
We can’t forget allegedly getting caught with his pants down in Venice while his “wife” topped him off, earning them a well-deserved banning by the Venetian Water Taxi company.
—
Photo: MEGA / Getty
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Adidas’ once glorious partnership with Kanye West turned sour, then legal, and unfolded as a headache of enormous proportions when the rapper made antisemitic comments on social media and in interviews.
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Almost a year after the German sportswear company cut ties with Ye, its CEO has no hard feelings.
Bjørn Gulden, the Norwegian CEO of Adidas, shared his thoughts on West and the background to that very public fallout for a recent podcast.
Noting that Kanye’s relationship with Adidas pre-dated his own appointment to the top job on Jan. 1, 2023, Gulden remarked, “I think Kanye West is one of the most creative people in the world, both in music and what I would call street culture. He’s extremely creative.” And together, both parties created the Yeezy sneakers line “which was very successful.”
Putting creativity to one side, Ye “made some statements which wasn’t that good,” Gulden continued. “That caused (Adidas) to break that contract and withdraw the product. Very unfortunate, because I don’t think he meant what he said and I don’t think he’s a bad person, it just came across that way.”
Speaking with Nicolai Tangen, CEO of Norges Bank Investment Management, for the In Good Company podcast, Gulden said Ye’s remarks “meant we lost that business, one of the most successful collabs in history. Very sad. But again, when you work with third parties that can happen. It’s part of the game. That can happen with an athlete, with an entertainer. It’s part of the business.”
Adidas cut ties with Ye last October, raising questions about the fate of 1.2 billion euros ($1.3 billion) worth of unsold Yeezys. At Adidas’ annual shareholders meeting in May of this year, Gulden revealed that Adidas would try to sell part of the remaining Yeezy inventory and “donate money to the organizations that help us and were harmed by what Ye said.”
By ending its association with Ye, Adidas took a bath. The split contributed to a loss of 600 million euros ($655 million) in sales for the last three months of 2022, helping drive the company to a quarterly net loss of 513 million euros. Adidas reported 400 million euros ($441 million) in lost sales at the start of 2023.
Gulden, formerly CEO of rival sneaker specialist Puma, succeeded Kasper Rorsted at the helm of Adidas, who was in charge of the business from 2016 until his departure November 2022.
Watch the interview in full below.
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