Yeezy news and archive

Adidas ups outlook, expects operating profit to reach one billion euros

Adidas announced that the company’s second quarter currency-neutral revenues increased 11 percent and in euro terms, the revenues grew 9 percent to 5.8 billion euros. Excluding Yeezy sales in both years, currency-neutral revenues increased 16 percent during the quarter. Following the better-than-expected performance during the quarter and...

Business

Kanye West reveals Super Bowl ad brought in nearly 20 million dollars

Controversial rapper and entrepreneur Kanye West has once again made headlines after revealing an unconventional ad during the Super Bowl to promote his merchandise. In the commercial, West is seen filming himself on an iPhone in the back of a vehicle, while calling on viewers to visit his e-commerce store, Yeezy.com, where he said he has “got...

Business

Adidas reveals plans to sell remaining Yeezy sneakers

Adidas intends to sell the remaining stock of Yeezy sneakers from its discontinued collaboration with Kanye West, at a minimum of the production cost. The company along with other major brands, severed ties with the musician and fashion designer, also known as Ye, in 2022 following his series of antisemitic remarks on social media. Although the...

People

Russian designer Gosha Rubchinskiy named Yeezy head of design

Gosha Rubchinskiy, a Russian designer and former Adidas collaborator, has been named the new head of design for Kanye West’s fashion brand Yeezy. To make the announcement, West made a rare reappearance on X – formerly Twitter – revealing that Rubchinskiy was to take up the new role immediately. The statement continued: “The arrival of this...

Business

Adidas raises 2023 outlook

Performance at Adidas was again positively impacted by the sale of parts of its remaining Yeezy inventory, and the underlying business also developed better than expected. Consequently, the company has updated its full year guidance. Adidas now expects currency neutral revenues to decline at a low-single-digit rate in 2023 compared to earlier...

Business

Adidas CEO defends former collaborator Kanye West

A remarkable statement has been made by Adidas CEO Bjorn Gulden, who indicated in the podcast 'In Good Company' that he did not think entrepreneur, designer and artist Ye (formerly known as Kanye West) meant the anti-Semitic statements he made. Among other things, these statements by Ye caused Adidas' collaboration with the artist for the Yeezy...

Fashion

Demand for Yeezy has yet to wane

Demand for Yeezy sneakers has not faded, despite almost a year of controversy surrounding Adidas’ now broken partnership with Ye, formerly known as Kanye West. The first drop, which was sold between April and June, secured the sportswear giant 400 million euros, and has also seen the value of Yeezy's on the secondary market continue to soar....

BusinessFeatured

Adidas expects sale of Yeezy inventory to further drive results

In the second quarter of 2023, currency-neutral revenues were flat at Adidas versus the prior-year level and in euro terms, the company’s revenues declined 5 percent to 5.343 billion euros. Even in the first half of 2023, currency-neutral revenues were flat, while in euro terms, revenues decreased 3 percent to 10.617 billion euros. On August 2,...

Business

Adidas announces second phase of Yeezy inventory sale

Sportswear giant Adidas has announced the second release of its leftover Yeezy inventory which is set to drop throughout August across the world. The announcement comes days after it was reported that the first batch released as part of its previous sale in May had garnered the company 565 million dollars in orders for the unsold products. Like...

Business

Adidas reportedly snaps up 508 million euros in first Yeezy sale

Sportswear giant Adidas is believed to have secured orders worth over 508 million euros in the first sale of Yeezy shoes as part of its writedown in the brand’s remaining stock. Adidas had opted to halt the sale of Yeezy sneakers in October after the downfall of its partnership with the controversial designer and rapper Kanye West following his...

Business

Adidas says Kanye West misappropriated 75 million dollars of marketing funds

In April of this year, shareholders of Adidas turned to the courts, lodging a lawsuit against the renowned sportswear giant, citing its failure to implement precautionary measures concerning the well-publiciced problematic behaviour of Kanye West, also known as Ye. The shoe is now on the other foot, with Mr. West finding himself at the center of...

Fashion

These are the most counterfeit sneakers

As Oscar Wilde said, “imitation is the sincerest form of flattery”. For sneaker manufacturers, however, this is only a small consolation, because they miss out on much revenue each year - millions, to be sure, because according to estimates, the global sneaker market is worth more than 81 billion British pounds (100 billion US dollars). When...