In the wake of Kanye West's controversial fallout with Adidas, the company's brand's Chief Financial Officer Harm Ohlmeyer recently announced their intentions to move forward with the 'Yeezy' line of footwear without the co-creator of the product, claiming that they still hold the rights to the designs and color combinations.
“adidas is the sole owner of all design rights registered to existing product,” Ohlmeyer said. “We intend to make use of these rights as early as 2023. We are working through all the options. When the time is right we will be more specific.”
The announcement comes after the revelation that Adidas is expected to lose about $250 million in revenues upon severing ties with Kanye West behind his anti-Semitic comments. Although Kanye West will maintain control of the patent for the YEEZY slides, his net worth has fallen from $1.9 billion to $400 million since losing a series of lucrative endorsements with companies such as Adidas.
Source: Hiphopdx.com
