Adidas Blames Kanye West Amid Potential Losses

BYAlexander Cole12.3K Views
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US rapper Kanye West (C), attends the Givenchy Spring-Summer 2023 fashion show during the Paris Womenswear Fashion Week, in Paris, on October 2, 2022. (Photo by JULIEN DE ROSA / AFP) (Photo by JULIEN DE ROSA/AFP via Getty Images)
Adidas can't seem to sell of their inventory of Yeezys.

Adidas has been having a bit of a problem as of late, especially as it pertains to Kanye West and Yeezy. Firstly, we must set the stage in order to explain the problem correctly. It all began many months ago as Ye was looking to shed himself off his Adidas deal. Overall, his methods of doing so were highly debated, and for the most part, people did not care for them. His anti-Semitic rants were uncalled for, and it put the sneaker brand in a bad position. Ultimately, they decided to get rid of Kanye, once and for all.

However, the brand opened up a can of worms by noting that they will continue to sell Ye's designs, albeit with new branding. Now, they have a huge branding conundrum on their hands, and there is no telling if fans will like to purchase these shoes without "Yeezy" written on them. Furthermore, Adidas was left with a massive inventory of Yeezy sneakers that they aren't sure what to do with. In fact, they have $534 million worth of them.

Adidas Has A Problem

Kanye West attends the Givenchy Womenswear Spring/Summer 2023 show as part of Paris Fashion Week on October 02, 2022 in Paris, France. (Photo by Stephane Cardinale - Corbis/Corbis via Getty Images)

According to TMZ, the three-stripes brand is now very concerned about this. During a recent call, the brand noted that it could lose upwards of $1.3 billion in 2023 alone. Mostly, they are putting the blame squarely on the shoulders of Kanye. Without him, they have lost a ton of momentum. Consequently, Adidas CEO Bjorn Gulden is calling this a transitional year for the company. While this may be the case, it is definitely not off to a good start.

Overall, this is a bad situation for Adidas, albeit one that they had very little agency over. With Ye acting erratically, they needed to cut ties. Now, however, Adidas must find a new way to attract consumers, that does not involve Yeezy. Let us know what you think about this situation, in the comments below. Additionally, stay tuned to HNHH for the latest news and updates from around the sneaker world.

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About The Author
Alexander Cole is the current Managing Editor of HotNewHipHop. He started at HotNewHipHop back in 2018 where he began as a Sports and Sneakers writer. During this time, he has shown an expertise in Air Jordans, Yeezys, and all things that have to do with Nike. His favorite kicks are the Air Jordan 1 High OG, the Air Jordan 4, the Air Jordan 6, and the Adidas Yeezy Boost 350 V2 in the "Beluga 2.0" colorway. Although his collection might not be the biggest, he is always looking to add new styles to it. When it comes to sports, Alex has a particular interest in the NBA and the NFL. His favorite teams are anywhere LeBron goes, and the Kansas City Chiefs. As a Montrealer, the Montreal Canadiens hold a special place in his heart, even if they haven't won the Stanley Cup in his lifetime. Alex also works for the Concordia Stingers, where he provides play-by-play and color commentary for the football, hockey, and basketball teams His favorite hip-hop artists are Kendrick Lamar, Playboi Carti, Travis Scott, and Lil Uzi Vert.