Keeping Up With Kanye
Between its inception and 2022, was known as one of the most innovative and dominant brands of the modern sneakersphere. According to , in 2021, Yeezy sneakers raked in nearly $1.7 billion in sales, and in 2022, Yeezy’s value was estimated at $3.2–$4.7 billion and was projected to draw $1 billion in annual sales with within the next 2–8 years. However, with Ye's major business partnerships with GAP and adidas terminated in 2022, a whole new phase in the realms of sneakers and streetwear dawned.
Keep it locked here for rolling updates.
adidas and Kanye End Their Legal Battle
The legal battle between Ye and the Three Stripes has finally reached a conclusion, as the two parties have come to a settlement outside of the court. While details of the agreement have not been shared, adidas CEO Bjorn Gulden confirmed that no money changed hands as part of the deal.
'There isn't any more open issues, and there is no... money going either way, and we both move on,' he told reporters on a conference call. He continued: 'There were tensions on many issues, and... when you put the claims on the right side and you put the claims on the left side, both parties said we don't need to fight anymore and withdrew all the claims.'
adidas' latest indicated that 2024 would be the last year that the brand would continue to sell Yeezy products. Throughout this year, adidas have continued to sell Yeezys at huge discounts, and even offloaded pairs to outlets. It's estimated that adidas will only see €50 million in revenue left from their remaining Yeezy product, while the brand continues to look at other in-line categories for growth.
Court Clears adidas in Securities Fraud Case
Update August 22, 2024: have successfully avoided a securities claim lawsuit that had accused the company of misleading shareholders by not disclosing the fragile nature of their relationship with Kanye West (now Ye). HRSA-ILA Funds, a pension fund and Three Stripes shareholder, had claimed that adidas had failed to reveal Ye’s ‘problematic conduct’ and were therefore guilty of ‘duping’ their investors.
In the recent ruling, Judge Karin J. Immergut of the U.S. District Court granted adidas the motion to dismiss the claims, stating that the shareholder ‘failed to sufficiently plead that adidas’s Business Partner Risk disclosures [and] other risk disclosures’, as well as its Diversity, Equity, and Inclusion ('DEI') statements were ‘materially misleading’. Judge Immergut also criticised HRSA-ILA's claim that adidas violated European Union rules by not disclosing Ye's alleged mistreatment of and adidas' employees, citing that the pension fund's allegations didn't meet the legal standards required for the court to take action. The court had also observed that adidas regularly warned investors about potential reputational harm due to misconduct by business partners in its reports. These warnings were seen as broad and hypothetical, in-line with industry norms, and did not suggest that no misconduct had occurred, as the pension fund had claimed.
adidas had filed a motion to dismiss the case back in February, having argued that the statements about the brand’s DEI policies and brand partnerships were aspirational. adidas also argued that they were under no legal obligation to disclose internal concerns about their partners, especially when considering that so much of Ye’s controversial behaviour was already clear to the public.
The Milo Yiannopoulos Affidavit
Update August 8, 2024: An affidavit has been filed just days ago by former chief of staff, Milo Yiannopoulos, in support of a complaint against Dr Thomas P Connelly. Connelly is a ‘celebrity dentist’ who Yiannopoulos claims has committed ‘reckless, unethical, dishonest, exploitative and, upon information and belief, illegal conduct’. This includes supplying enormous quantities of nitrous gas to for recreational use, knowingly encouraging him to use the gas in the absence of a qualified anaesthetist or medical professional, and taking advantage of him to the effect of millions of dollars. In support of his claims, details of the Yeezy business were laid bare, including the fact that when Yiannopoulos was given the chief of staff role, he found ‘dozens of fraudulent schemes, audacious greed, double billing, duplication of labor, entirely unnecessary employees collecting seven-figure salaries and all manner of other senseless wastes of money’. On top of this, Ye’s archive had been ‘plundered to exhaustion’, which includes the theft of irreplaceable artifacts like his Grammys. Despite having terminated the contracts of the people who committed these crimes while employed at Yeezy, Yiannopoulos writes, ‘Since my departure in May, I understand the company has returned to its prior state and many of those found guilty of theft, extortion and abuse have returned’.
Yiannopoulos then returns to Connelly and how the dentist infiltrated himself into Ye’s life through the supply of this nitrous gas, but also his attempts to be hired at Yeezy for a $2.4-million salary. Yiannopoulos writes, ‘Given Connelly’s familiarity with rap and hip-hop music stars, many of whom have been clients in the past, there can be no doubt he was aware of Ye’s psychological vulnerabilities. I believe he sought to exploit them’. Yiannopoulos finishes the affidavit urging the dental board to suspend Connelly’s license, but also to investigate further into the professional misconduct of the dentist.
Ye Drops YZY Pods Sock Shoes
Update December 15, 2023: After teasing his latest creation on various outings over the past year, Ye has now dropped his YZY Pod Sock Shoes on his sply.yzy site. The style consists of a knit upper and a super-thin sole unit, and is Ye's first footwear project since leaving adidas. The YZY Pods are available now for preorder on retailing for $200.
Ye Signs Gosha Rubchinskiy as YEEZY New Head of Design
Update December 13, 2023: It's now been a year since adidas terminated its deal with Ye, and today, he announced on X (FKA Twitter) that 39-year-old Russian fashion designer is the new Head of Design for YEEZY. Rubchinskiy founded his eponymous label in 2008 and has since worked with the likes of Comme des Garçons, Burberry, Dr. Martens, and Levi's. He's also an adidas alumni, working with Ye's former partners for the 2018 World Cup. Ye and Rubchinskiy's relationship spans quite a few years, first meeting in Moscow in 2016, and Ye recently tapped the designer for the artwork of his upcoming album with Ty Dolla Sign, 'Vultures'.
Despite Rubchinskiy's past achievements, this is his first major fashion appointment since he faced allegations of sending inappropriate messages to a minor in 2018. Rubchinskiy denied the allegations, but he and his label never truly recovered from the controversy and have been flying under the radar ever since.
The signing of a fellow outsider who's no stranger to controversy is an interesting development.
Bjorn Gulden Comments on adi’s Cancelled Yeezy Partnership
Update September 20, 2023: adidas CEO Bjorn Gulden has sat down for an interview on the podcast In Good Company, with Norway Wealth Fund CEO Nicolai Tangen. The conversation spans a range of topics, including adidas’ cancelled relationship with Ye. This is the first time comments have publicly been made, excluding official adidas press statements.
Gulden commented, ‘I think Kanye West is one of the most creative people in the world, both in music and what I will call street culture. So he's extremely creative and has together with adidas created a Yeezy line which was very successful. And then as creative people, you know, he did some statements which wasn't that good. And that caused adi to break the contract and withdraw the product. Very unfortunate because I don't think he meant what he said and I don't think he's a bad person. It just came across that way. And that meant we lost that business. You know, one of the most successful colabs in history. Very sad. But again, you know, when you work with third parties, that could happen and you know, it's part of the game. It can happen with an athlete, it can happen with an entertainer. So, it's part of the business.’
Ye24?
Update November 22, 2022: Claims that Ye is running for president in 2024 are blowing up the internet. The news can be traced back to the latest video posted on the YouTube channel , who spent some time with Ye over the weekend. Opening up the video, Ye mentions that he’s in the process of planning his 2024 presidential campaign in the most casual way possible, pointing out that Milo Yiannopoulos is ‘working on the campaign’. When asked if it was an announcement, Ye says, ‘I guess it is!’
Later in the video, Ye presents some garments that appear to be Ye24 campaign merch. When asked if he’s running, he simply replies, ‘Yes’. Check out the full video below.
Ye Pulls Up to ComplexCon
Update November 21, 2022: There's always a lot going on at ComplexCon and this year Ye has decided to make a surprise appearance in California, sending the annual festivities off with a bang. What isn’t a surprise is the pandemonium that ensued, with Ye being followed by a swarm of people inside the venue. On-foot, it appears that Ye is wearing the 3D printed boots which recently circulated around YZY SZN 9. Check them out in the videos below.
adidas Reportedly Raising Debt in Europe
Update November 15, 2022: It’s become public knowledge that adidas’ split from Ye would cost them heavily on the financial front. Things have been relatively quiet since the news broke last week, but adidas’ latest move has now appeared via . According to the news source, adi are raising debt from Europe’s bond market, reportedly seeking €1 billion ($1 billion) from a two-part debt deal. This is the first time the Three Stripes have dipped their toes into the debt market since 2020.
Right now, it appears that that adi’s steps to standing on their own two feet involve escaping debt via bonds, aka loans, as well as selling non-Yeezy branded designs.
adi Plans to Use Yeezy Designs
Update November 10, 2022: Following the public splitting between adidas and Ye, it has remained unclear what would become of Yeezy designs, as well as clarity on ownership and rights. Now according to , on adidas’ third quarter earnings call, it has been confirmed that adi will continue to use Yeezy designs moving forward. Furthermore, according to , adi’s CFO Harm Ohlmeyer stated that they are still planning out their options for selling the sneakers in 2023 and also expect to save around $302 million in royalties and marketing.
Ohlmeyer also stated, ‘Let me be clear, we own all the IP, we own all the designs, we own all the versions and new colourways. It’s our product. We do not own the Yeezy name.’
Aside from adidas announcing the above plans, there are still a lot of questions that remain unanswered.
Yeezy Manufacturer Lays off Two-Thirds of Its Staff
November 4, 2022: United States footwear manufacturer Okabashi Brands, known for making the Yeezy Foam Runners, has laid off 142 workers. The number amounts to two-thirds of their workforce.
‘adidas clearly does not tolerate hate speech, and Okabashi also stands for these values,’ a spokesperson from Okabashi said to .
‘Unfortunately, this means Okabashi has to stop its current production for adidas. As of right now, there are not enough orders to keep all employees busy with work.’
The Future of Yeezy adidas Sneakers
October 27, 2022: A number of analysts and legal experts have chimed in on the subject of Yeezy-patented sneaker designs and what may happen regarding ownership moving forward. According to analysts who have spoken to , adidas could be expected to continue to sell formerly branded Yeezy sneaker designs without Yeezy branding in order to limit the loss of revenues and save on royalty expenses in 2023.
Per legal experts who have spoken to , they note that the Yeezy adidas contract is not publicly viewable, but it’s believed that Ye is the owner of the Yeezy trademark. This observation has been made off the back of adidas’ statement saying they would ‘end production of Yeezy branded products’.
See below for a gallery of Yeezy design patents that are owned by adidas.
Foot Locker and GAP Pull Yeezy Product
October 26, 2022: Following the that adidas have terminated their partnership with Ye, Foot Locker have also issued a statement on the Yeezy front. As reported by , a company email has been sent to FL employees regarding their stance, including instructions to pause sales on Yeezy products.
The statement reads, ‘Foot Locker, Inc. does not tolerate any form of antisemitism or hateful and discriminatory behavior. While we remain a partner with adidas and carry a wide assortment of their collections — we will not be supporting any future Yeezy product drops, and we have instructed our retail operators to pull any existing product from our shelves and digital sites.’
Foot Locker’s partnership with adidas was expected to generate more than $2 billion in sales by 2025, which Yeezy products would have undoubtedly bolstered.
GAP are also removing Yeezy GAP products from stores and have shut down the Yeezy GAP webstore.
In a statement made to , they said, ‘In September, GAP announced ending its Yeezy GAP partnership. Our former partner’s recent remarks and behavior further underscore why. We are taking immediate steps to remove Yeezy GAP product from our stores, and we have shut down yeezygap.com.
Antisemitism, racism and hate in any form are inexcusable and not tolerated in accordance with our values. On behalf of our customers, employees and shareholders, we are partnering with organizations that combat hate and discrimination.’
Lex Fridman Interviews Ye on New Podcast Episode
October 25, 2022: As Ye continues to be under fire for anti-Semitic remarks and comments about George Floyd, have reported that an anti-Semitic group hung a ‘Kanye is right about the Jews’ banner over a Los Angeles freeway. Since then, there have been several online responses about the matter, including one from Jessica Seinfeld who took to Instagram to post an image that read, ‘I support my Jewish friends and the Jewish people,’ along with a Change.org petition asking for adidas to end its partnership with Ye.
Since then, Ye has sat down for a lengthy interview with Lex Fridman, where they discussed his recent comments, his status with Balenciaga (confirming that he and Demna are still ‘kindred spirits’), that he still pays royalties to the brand and more. Check it out above.
Balenciaga Officially Distances From Kanye
October 21, 2022: confirmed that Kering-owned fashion house Balenciaga is distancing from Ye. The statement revealed that ‘Balenciaga has no longer any relationship nor any plans for future projects related to this artist.’ Kanye West walked in Balenciaga’s ‘The Mud Show’, but the brand subsequently pulled images of Kanye from their site. This decision to split comes after Ye made non-factual anti-Semitic remarks and comments about George Floyd, causing social media backlash against the musician and designer.
George Floyd’s Family May Be Planning to Sue Ye
October 19, 2022: The family of George Floyd are reportedly planning to sue Ye for a sum of $250 million for recent remarks made on Drink Champs. As reported by , Pat D. Dixon III, the lawyer handling the case, has stated: ‘Kanye’s comments are a repugnant attempt to discount George Floyd’s life and profit from his inhumane death.’ They also added that they want to ‘hold Mr West accountable’ for his ‘flagrant remarks’. If the suit goes ahead, not only will it be directed at Ye, but also at ‘business partners’ and ‘associates’.
The Drink Champs episode has since been deleted from YouTube, and a representative has issued a statement apologising for its contents.
‘Drink Champs prides itself on its ability to allow a free flow of ideas within the hip hop community. That being said, unfortunately, the recent interview with Kanye West contained false and hurtful information regarding the circumstances surrounding the murder of George Floyd. Integrity is very important, and we don’t want to promote false narratives on our platform. Our goal is to celebrate the culture. Therefore, we had no choice but to remove the episode from distribution. We apologize to the family of Mr Floyd and anyone else hurt by this episode.’
Ye Set to Buy Social Networking Service Parler
October 18, 2022: Following his ban on Instagram and Twitter, Ye is now set to buy the right-wing social networking service Parler. Ye stated in a press release, ‘In a world where conservative opinions are considered to be controversial, we have to make sure we have the right to freely express ourselves.’ Parler’s CEO, George Farmer, is married to political journalist Candace Owens, and the sale is due to be finalised by the end of 2022’s fourth quarter.
Drink Champs Hosts Ye
October 17, 2022: Ye has sat down for his latest interview on the podcast . Speaking to show hosts N.O.R.E. and DJ EFN, Ye covered topics like being banned from the media, running for office in 2024 and more. As it stands, the discussion has ruffled a few feathers online, particularly in relation to his comments about the death of George Floyd. You can view the interview above.
Ye Issues a Statement on JPMorgan Chase
October 14, 2022: Ye still appears to be blocked from his Instagram and Twitter accounts. However, he gave a comment to a photojournalist while outside of Candace Owen’s premiere for The Greatest Lie Ever Sold documentary. He also responded briefly to accusations of being anti-semitic due to other recent comments. Check it out above.
Ye Shares LAST WEEK Documentary
October 11, 2022: While Ye has currently been locked out of his Instagram and Twitter accounts due to what many have deemed to be anti-semitic dialogue, he has since taken to YouTube to share a 30-minute documentary titled LAST WEEK. The documentary begins with GTA-inspired videography before sharing never-before-seen footage of recent moments like car rides, phone calls and Yeezy Season 9 fittings.
Around the halfway mark, the documentary cuts to some covertly filmed footage of a meeting between Ye and adidas executives. The faces in the room are blurred, but it seems both Ye and his representation are present alongside two adidas executives – including adi’s chief creative officer and Stella McCartney’s husband, Alasdhair Willis.
It is unclear if adidas will respond to the footage going public.
The Louis Vuitton Don
October 10, 2022: Ye has sat down for an interview with to talk about everything from why he uses social media to express himself to collapsed deals with Louis Vuitton.
Talking about LV, Ye details previous conversations with LVMH CEO Bernard Arnault, who reportedly offered to produce Yeezy apparel after the Season 1 fashion show. Later in the interview, Ye also mentions he was offered the creative director of LV men’s role before the late Virgil Abloh and elaborates on why he believes he never collaborated with the French luxury brand during Abloh’s tenure.
‘Virgil had the access to the house, and we were never able to do a collaboration,’ Ye begins. ‘I think because they consider me to be toxic because I had a political opinion; because I wouldn’t wear BLM shirts; because I would wear a red hat. The fact that I wanted to vote on Trump is the thing that sent me to the hospital the most.’
Ye also says that he felt a lot of ‘pain’ and ‘jealousy’ when Abloh was at LV and that ‘he would get mad’ because he ‘felt certain designs could be better.’
Kanye Opens up on Working With GAP
September 16, 2022: In an exclusive interview with , Ye has shared details on how working with GAP was ‘frustrating and disheartening’ and how sometimes it felt like he was on .
He opens up by saying, ‘It was always a dream of mine to be at the GAP and to bring the best product possible to the masses. I always talked to them about doing products for $20, designed at the same level of the top fashion houses in. the world, at $20 for the people.’
With that not coming to fruition due to ‘struggles and back and forth’, he reveals issues he had with price point decision-making, an interesting slice of information to know, given the widespread backlash he received for the excessive price points of the collaboration.
‘We designed an entire collection, and actually, I wasn’t able to set the actual price that I wanted for this collection. And then they actually took one of the shirts and sold it for $19. They priced my stuff at $200 and above their whole price point normally and then did the exact same shirt for $20,’ Ye said.
‘And also they did pop-ups, and I signed on with them because, in the contract, they said they were gonna do stores. And they just ignored us about building stores constantly... sometimes I would talk to the guys, the leaders, and it would be like I was on mute or something. Our agenda wasn’t aligned.’
Kanye Opens the Yeezy GAP Floodgates
September 1, 2022: Ever since Kanye took to Instagram to for copying his t-shirts, he’s opened the floodgates to other qualms with GAP. In addition to drawing parallels between the in-line tees and the Yeezy ones, Ye has also claimed to be left out of GAP comms, writing on Instagram: ‘Gap having meetings about me without me.’