Adidas has reportedly patched things up with Kanye West just a few months after the company ended its relationship with the controversial rapper.
On Friday, rumors surfaced that the footwear giant and Kanye West agreed to help sell the Yeezy merch the company was stuck with. Last year, the company dropped Ye following weeks and weeks of rants that ultimately culminated with antisemitic statements that led to a major falling out for many of his business relationships.
The rapper’s rants shocked many as he attacked many persons with a Jewish background and even praised and sought to justify Adolf Hitler’s hateful rhetoric that led to the murder of millions of Jews.
Kanye West’s Adidas deal, in particular, was among his most lucrative and valued at over 1 billion and saw him tumbling from the Forbes billionaire list in a not-so-graceful fall. It seems though that while Adidas was the one that initiated cutting ties, the company’s viability is hinged on Kanye’s lucrative Yeezy brand that is retailed through Adidas stores.
Neither Kanye nor Adidas have commented on their working together, but there are reports that following the end of their deal, they faced a $520 million loss due to unsold Yeezys, especially since Kanye’s large fan base also boycotted the company.
The stock held by Adidas posed an issue for the company since it does not have the Yeezy logo, although it was designed by Yeezy/Kanye and has the insignia.
Adidas stood to lose over $1 billion this year from the stock not being sold or not valued as the market value of Yeezy branded goods.
Is Kanye West and Adidas working together again?
In the meantime, despite the lack of confirmation, fans of Kanye and even some credible reporters like Complex’s Brendan Dunne have confirmed that sources say there is some sort of deal between the parties.
However, it might just be a deal to help out Adidas in getting rid of the $520 million in goods it has.
Breaking: Apparently Kanye West & @adidas have reached a deal to release the remaining $500 million worth of Yeezy shoes slated for 2023. The renewed deal only focuses on existing inventory. pic.twitter.com/PWvgFhY93n
— Ari Ingel (@OGAride) February 24, 2023
Kanye’s merchandise with Adidas included sneakers, slides, and other footwear and clothing.
Ahead of Adidas cutting ties with Kanye, the rapper had accused Adidas of failing to uphold their end of the bargain and not building enough brick-and-mortar stores to expand his Yeezy brand across America.
The company never publicly responded to the rapper’s accusations.