Following Adidas’ announcement that they will be cutting ties with Kanye following his antisemitic remarks, they will now reportedly sell the Yeezy shoe without the name.
Bloomberg reports that the sportswear company will sell Kanye’s designs under the Adidas brand starting in 2023, according to analysts at Morgan Stanley and RBC Capital Markets.
“Looking ahead, on our understanding, the company will not sell any Yeezy-branded products and all Yeezy products will be branded under the Adidas brand,” Morgan Stanley analyst Edouard Aubin said in a note to clients Tuesday (Oct. 25).
This follows Adidas’ statement that they released on their website Tuesday (Oct. 25).
“Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness,” the statement reads. “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.”
Also included in the statement was the global sports brand claiming that they are the sole owner of the design rights to previous, current, and unreleased colorways of the Yeezy collaborations.
“This is expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter,” the statement continues. “Adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.”
Adidas was just one of the companies that have decided to no longer partner or associate with the rapper. Vogue and Balenciaga severed ties with Ye as well as his touring agent CAA, Deadline reports. Los Angeles Rams defensive tackle Aaron Donald and Boston Celtics shooting guard Jaylen Brown also have cut ties with Kanye’s sports division Donda Sports.