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The former adidas collaborator also alleges that the brand is suing him for $250 million.
Kanye West isn’t pleased that adidas will continue to sell adidas Yeezy products after the former collaborator had his contract terminated in October 2022 following a series of anti-semitic remarks and antics.
As images of the first upcoming Yeezy release surfaced on February 26, 2024, Ye voiced his frustration with the resumption of the adidas Yeezy sales and called out the upcoming adidas Yeezy Boost 350 V2 “Steel Grey” colorway “fake” as he claims to have no part in the creation of the iteration.
However, in 2022, adidas CFO Harm Ohlmeyer, stated that adidas holds all the design rights registered to existing adidas Yeezy product, including previous and new colorways.
The adidas Yeezy Boost 350 V2 “Steel Grey” colorway is the first example of adidas exercising aforementioned right.
I can confirm that adidas is the sole owner of all design rights registered to existing product, as well as previous and new colorways under the partnership, and we intend to make use of these rights as early as 2023.
adidas CFO Harm Ohlmeyer via Complex
The release of the upcoming 350 V2 iterations follows adidas’ earnings call on January 31, 2024, that it would once again resume adidas Yeezy sales.
In May 2023, the brand released a plethora of vaulted adidas Yeezys. However, in October 2023, the brand announced that it would pause the Yeezy releases that were going to take place in November 2023.
The January 2024 announcement also indicated that the Three Stripes will sell remaining Yeezy inventory at cost in 2024 for around $271M (~€250 million). adidas stated in its press release that the sales will have no impact on its expected 2024 profits.
Additionally, Ye went on to state that adidas is allegedly suing him for $250 million and not paying him for the remaining adidas Yeezy releases.
In March 2023, adidas CEO Bjørn Gulden stated that Ye would receive his royalty of adidas Yeezy sales after a leaked document from November 2022 revealed that adidas had no initial plans on issuing a cut to the former adidas collaborator.
More colorways of adidas Yeezys are expected to take place throughout the Spring/Summer 2024 season.
The “Steel Grey” adidas Yeezy Boost 350 V2 releases on February 29, 2024, for $230 via adidas CONFIRMED.
Stay tuned to Snkrs Day as the story develops.
