Adidas has officially severed all ties with Kanye West, announcing this week that it has completely sold off its remaining Yeezy inventory.
Adidas Chief Financial Officer Harm Ohlmeyer confirmed the news, stating, “There is not one Yeezy shoe left. It has all been sold, and that episode is behind us.”
The partnership between Adidas and Kanye began in 2013 and was valued at over $1 billion. However, the relationship unraveled in October 2022 when the company cut ties with Ye over his antisemitic remarks. Following the termination, Adidas began liquidating its remaining Yeezy stock in May 2023, pledging to donate a portion of the proceeds to organizations combating antisemitism, including the Anti-Defamation League.
At the time, Adidas released a statement reinforcing its stance, saying, “Adidas does not tolerate antisemitism and any other sort of hate speech. [West’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.”
Despite losing his deal with Adidas, Ye continues to use the Yeezy name to promote merchandise. Most recently, he sparked further controversy by selling a t-shirt featuring a swastika, which led to Shopify shutting down his online store.
With Adidas officially moving on from Yeezy, the brand now looks to rebuild its reputation while Ye continues to navigate the fallout from his remarks and business decisions.
Source: Variety
