adidas’ Life After Yeezy: A Running Timeline
The dissolution between and has marked one of the most significant partnership breakdowns in sneaker and streetwear history. Confirmed to be over by adidas in October 2022, the world has watched and waited, anticipating what will come next in this shocking chapter. adidas, now led by CEO Bjørn Gulden, have published multiple reports of their ongoing financial turmoil and undesirable inventory levels, largely due to the abruptly concluded Yeezy era.
Onlookers alike are divided on the matter, with just as many stanning the move as those that have detested it. Each party has both lost fans and further engaged their most loyal followers – and if one thing’s clear – it’s that adidas are largely figuring it out as they go along. That’s why we’re keeping you posted as things continue to shift. Read on for all the latest updates on adidas’ post-Yeezy era.
adidas Potentially Won't Drop Remaining Yeezy
Following the pausing of Yeezy sales, adidas CEO Bjørn Gulden has confirmed in a conference call that the brand are contemplating writing off the remaining stock. This could mean that the rest of the Yeezy sneakers won't ever see release. Currently, the value of the remaining stock is worth €300 million, but would cost the company €200 million to scrap. In the conference call, Gulden said 'We of course hope that we can do more drops next year and that we can get value out of it and donate proceeds to anti-hate groups but right now, financially, we haven’t made the decision.'
Remaining Sales of Yeezy Stock Paused
An internal adidas memo shared with has been revealed stating the planned November drop will not happen. The memo reads, 'As a brand we will not do a new drop for the remainder of the year both for our internal e-com and retail as well as wholesale. We will not be shipping out any new stock, this direction was given at the board level.' Sources say this decision was motivated by the ongoing Israel-Hamas war, as the reason Yeezys were cancelled in the first place was a result of Ye's antisemitic comments. There is no official word on when the final stock will be sold.
No More Yeezys and Charitable Donations
In a recent earnings call, adidas CEO Bjørn Gulden has confirmed that they will not sell anymore Yeezys after the current stock dissolves. Going on to state that 'our task is to limit the damage, get rid of the inventory and then build the business later without Yeezy'. Gulden has also announced that Trefoil Group kept to their word and donated $10 million so far to charity groups such as the Anti-Defamation League, Philonise & Keeta Floyd Institute for Social Change and Robert Kraft’s Foundation to Combat Antisemitism. Due to the recent sales, an extra $120 million donation has been promised.
Phase Two of adidas’ Yeezy Sale Resumes in August
Update July 31, 2023: Select global retailers including the likes of END. and UP THERE have confirmed that they are set to be replenished with Yeezys at the start of August. Kicking off on August 2, an extensive list of stores will resume sale of a handful of silhouettes, strictly digitally. Pairs include Yeezy BOOST 350v2s, 500s, 700s and more. Copping will also be possible directly via adidas. Keep it locked for updates.
Figures Confirmed Following adidas’ Yeezy Sale in May
Update July 25, 2023: Earlier this year in May, adidas made the executive decision to sell their remaining Yeezy inventory to buoy an undesirable financial situation following the split with Ye. According to the , the move was an extremely successful one, with the Three Stripes earning themselves orders worth more than €508 million ($565 million), equaling four million pairs of Yeezys. The exact profit from the sale is yet to be confirmed, as according to adidas CEO Björn Gulden, portions of the sum will not only be directed to charity, but to Ye’s royalties and other costs related to the ending of the partnership.
Yeezys Will Return to Retailers in August
Update July 20, 2023: According to , select Yeezy products will be returning to a handful of retailer stores next month. Per the source, you can expect pairs like the Yeezy BOOST 350v2 to drop in a stack of colourways – both existing and new – alongside Foam Runners and more. See the full list below.
adidas Court Order Freezing 75 Million Yeezy Dollars Overturned
Update May 29, 2023: On November 11 last year, adidas filed a case against Yeezy to freeze 75 million dollars held in the once-affiliated sub-brand’s bank accounts. The intention was to ensure that the funds remained in place while the partnership dissolution was settled. Now that case has been overturned by federal judge Valerie E. Caproni in a court ruling on Friday, reports.
Judge Caproni stated, ‘Petitioner launches a volley of unpersuasive arguments in an attempt to excuse its noncompliance with the plain language of the statute. Without a confirmation hearing, Yeezy was deprived of an early opportunity to have the Court consider its substantive challenges to Petitioner’s arguments.’
On Friday, Yeezy lawyers argued that adidas had ‘failed to show that it was ever entitled to such an order in the first place,’ as adidas had failed to ‘confirm’ the order within five days. It was then ruled by Judge Caproni that adidas’ ‘failure to file a motion to confirm nullifies the attachment order.’
Further to this, the freeze on Yeezy’s bank accounts has not only been lifted, but it had also been ‘rendered null some six months ago when adidas failed timely to move to confirm the order.’ Judge Caproni has also issued an order for this case and ruling to be rendered public records.
It’s Official: adidas to Sell Remaining Yeezys
Update May 22, 2023: It’s official, adidas have that they will resume selling the remaining Yeezy product as of this month, but that ‘timing is yet to be determined’. This will mark the first time that adidas have sold Yeezys since the partnership was terminated in October 2022. It has been confirmed that a significant portion will be donated to organisations combating discrimination and hate, including the Anti-Defamation (ADL) and the Philonise & Keeta Floyd Institute for Social Change.
adidas CEO Bjørn Gulden said, ‘After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products. Selling and donating was the preferred option among all organisations and stakeholders we spoke to. We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities. There is no place in or society for hate of any kind, and we remain committed to against it.’
More adidas Yeezy Sneakers Show Up on adidas India
Update May 18, 2023: After the news of products showing up on the , it looks like more may be on the way.
According to on Twitter, adidas India had a handful of adidas Yeezy sneakers showcased on their website, stating they’ll be released on June 1, 2023. Styles range from the , , , , , , and Slides.
In addition, a large footnote stated, ‘A portion from the sale of these items will be donated in support of the fight against discrimination, hate, racism, and antisemitism.’
adidas India have since taken down the post, but keep it locked to Sneaker Freaker for updates if and when they surface.
adidas Yeezy Product Might Be Dropping Soon
Update May 17, 2023: After news of adidas and Ye reuniting to sell off the remaining Yeezy inventory on May 11, information on when that would happen is still unknown – but it may be sooner than expected.
The V2 ‘Zebra’ and ‘Utility Black’ were loaded up on the UK and Europe websites earlier when ‘Yeezy Trainers’ was put into the search bar.
adidas and Yeezy Are Partnering Up Again
Update May 12, 2023: Since Ye and adidas parted ways, rumours of the two parties joining up again have swirled as the Three Stripes move to re-establish their footing in the industry. The termination of Yeezy back in October 2022 left adidas with $500 million dollars worth of Yeezy inventory sitting in warehouses, resulting in adidas lowering their expected revenue for 2023 by around $1.29 billion due to the fallout.
According to , the partnership will only sell the remaining Yeezy inventory, and a part of the proceeds will go to charitable international organisations. Ye will also get a 15% commission on all remaining Yeezy products.
adidas’ Financial Status Still Taking a Hit From Ended Yeezy Partnership
Update May 8, 2023: adidas have published their Q1 financial results for 2023. They’ve disclosed that the decision to cut ties with Yeezy is still having undesirable effects on the business. In March, adidas made it clear that they were unsure what to do with the remaining Yeezy product, and in their they’ve confirmed they are still reviewing options for repurposing the Yeezy inventory. It’s noted that if they decide to write off the product, it’ll cost their operating profit a total of 500 million euros.
adidas CEO Bjørn Gulden also notes that the discontinuation of the Yeezy category has represented a loss of around 400 million euros this quarter. Gulden stated, ‘The decline in Lifestyle and the loss of Yeezy are of course hurting us.’
adidas Shareholders Sue adidas Over Yeezy Fallout
Update May 2, 2023: The fallout between and has been in the headlines since adidas ended their partnership with Ye and the line in October 2022. Now according to , adidas shareholders filed a class-action lawsuit against the Three Stripes, alleging that the higher-ups at adidas ignored Ye’s antisemitism and ‘routinely ignored’ his behaviour which affected stock prices.
Filed on April 28 2023, in the US District Court for the District of Oregon, the lawsuit accuses adidas senior executives, including adidas CFO Harm Ohlmeyer and former CEO Kasper Rørsted, of enabling Ye’s behaviour and they ‘failed to take meaningful precautionary measures to limit negative financial exposure’ if the collaborative partnership ended. The lawsuit includes anyone who’s bought shares of adidas from May 3 2018, when Ye stated that slavery was a ‘choice’, to 2023.
Rumours of an adidas x Yeezy Contract Circulate
Update February 27, 2023: A gargantuan rumour has circled the internet over the weekend alleging that adidas have signed a new agreement with Ye. This new partnership will be in place to sell the remaining $500 Million worth of Yeezy stock. Once all the unsold product is gone, it seems the partnership will again be terminated. The Kanye and adidas camps are yet to officially confirm the rumour but stay locked to SF to keep updated.
adidas Reveal Current Stats Following Yeezy Break-Up
Update February 10, 2023: adidas are yet to find their financial footing following the end of their Yeezy partnership. They’ve just detailed their across a number of areas, sharing they are still in the process of reviewing future options for the utilisation of Yeezy inventory, which has had a ‘significant adverse impact’ due to the unsold stock. If they continue to hold, it’s expected that revenues will be lowered by approximately €1.2 billion ($1.29 billion), and operating profits would take a €500 million ($537 million) hit this year. adidas also expects a one-off cost of up to €200 million in 2023, allocated towards a strategic company review.
adidas CEO Bjørn Gulden has stated, ‘The numbers speak for themselves. We are currently not performing the way we should. 2023 will be a year of transition to set the base to again be a growing and profitable company.’
Update February 2, 2023: Following last year’s announcement that Kanye West and adidas will part ways, the Yeezy Supply website has officially gone offline.
adidas Announced End of Yeezy Partnership
October 22, 2022: Today, released a announcing the end of the brand’s collaboration with .
The statement outlines that the brand felt Kanye has violated adidas’ values of ‘diversity and inclusion, mutual respect and fairness.’ adidas also specified that the brand maintains ownership of YEEZY designs, ‘adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership.’