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Sneakerheads may still be able to purchase Yeezys despite Kanye West being dropped by the brand.
A report from Bloomberg says Adidas plans to still sell products from previous collaborations with Ye, but under the Adidas brand, in 2023 according to analysts from Morgan Stanley and RBC Capital Markets, via XXL.
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The news comes just after the company announced it cut ties with West after his inflammatory antisemitic comments on social media caused massive backlash.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” the company said in a statement Tuesday. “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 company may have the right to continue selling the designs if their claims of ownership over the collaboration prove true.
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“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 continued. “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.”
The brand is the latest company to end their partnership with West over his comments, with other brands like Balenciaga terminating their partnership and talent agency CAA dropping him as a client.
