Adidas has agreed to pay royalties to Kanye West for unsold Yeezy sneakers, which are set to be sold in the near future. The terms of the original agreement were that Ye would receive 15% of the sale price for each shoe sold. The embattled CEO of Adidas, Bjørn Gulden, has not commented on the issue, but has previously stated that royalties would be paid when the sneakers were sold. Gulden also announced that profits from the Yeezy brand would be donated to charity.
Despite rumors to the contrary, the controversial rapper and fashion designer Kanye West has managed to prevail in this battle with the multi-billion-dollar company. Fans of the Grammy-winning artist were thrilled to hear that Adidas would be selling some of the unsold Yeezys, and many took to social media to voice their excitement.
However, West’s previous behavior has had a negative impact on the brand. Last year, his antisemitic comments led to Adidas cutting ties with him. This resulted in significant losses for the company, including $1.3 billion in unsold Yeezys, leading to $534 million in operating losses this year. Despite this, Gulden has praised West for his creative genius.
Many fans believe that Kanye West’s endorsement is essential to the success of the Yeezy brand. Without his co-signing it, they claim that very few sneakers would be sold. Regardless, it seems that the rapper has succeeded in securing royalties for his previous collaborations with Adidas.
Overall, Kanye West’s victory over Adidas is a testimony to his resilience and the enduring appeal of his brand.