With a Substantial 85 Percent Kanye West Owned Yeezys Helped Adidas Have a Highly Profitable Q2
Throughout the changing landscape of brands, one name that stands out in the world of sneakers is Yeezy. Created by the rapper and designer Kanye West, this brand has made a significant impact on the sportswear industry through its successful and influential collaborations. One such pairing was with Adidas in 2015. Although the two are no longer friends, West’s company has brought benefits to the company with an astonishing 85 percent contribution to Adidas’ operating profit in the second quarter of 2023.
It all happened because of Yeezy Day on August 2, 2022. During this event, Adidas unveiled Yeezy products and restocked existing ones through their website and app. The announcement was made by West himself on his social media accounts. It created quite a buzz among sneaker enthusiasts and collectors. According to Adidas, the event collected revenue exceeding $3 billion.
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However, disaster struck soon. In October 2022, Adidas publicly announced the termination of its collaboration with West following his anti-Semitic comments shared on social media. The decision triggered outrage and led to boycotts from both customers and celebrities. The fallout from ending the contract had a negative impact on Adidas’ financials as they had to write off unsold Yeezy inventory worth hundreds of millions of dollars and also pay severance fees to West.
Now, in a surprising turn of events, West and Adidas are back in partnership as of July 2023, just weeks before Yeezy Day. However, it has received mixed reactions from the public: some expressed excitement and loyalty while others expressed disappointment and skepticism.
Meanwhile, it would seem that Kanye West can make his way onto headlines out of thin air. A recent controversy highlights that well.
Kanye West makes the news with every step that he takes either in reality or in the virtual domain
The rapper is the kind of newsmaker one might not aspire to be. Nonetheless, he is quite the celebrity, as controversy seems to follow him everywhere. The ‘Donda’ singer has been in Tokyo for a long time with his wife, Bianca Censori. However, he was recently spotted in Italy with an unknown woman just a little prior to Travis Scott’s concert. At last, it seems it was all for his company Yeezy, as he has his eyes on a global comeback.
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Speaking of a comeback, the Flashing Lights singer made dramatic headlines everywhere just a week ago from the day of writing with his Twitter comeback. After being suspended by Twitter chief Elon Musk for seven months, West (or Ye) was back for just about an hour before being banned again. Nevertheless, he is now back online again and his tweets have all the controversy one would need.
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What do you think of Kanye West and Adidas joining hands again? Let us know in the comments below.
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