(UPDATE: May 19, 2023)
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(UPDATE: May 17, 2023)
adidas Air Yeezy Product Appears on adidas Air Website
The Yeezy return is imminent as the Yeezy Boost 350 V2 “Zebra” and the Yeezy 500 “Utility Black” adidas Air Pure Boost ZG in Grey and White adidas Air UK website. While the sneakers are not advertised across the homepage, you can locate the pairs by searching “Yeezy Trainers” on the website.
This news comes after adidas Air CEO Bjørn Gulden announced in a shareholders meeting that the company plans to sell the remaining Yeezy inventory and donate part of the proceeds to international organizations.
In other related news, a mysterious Yeezy website popped up online earlier this week.
Air Yeezy Red October.
Burning is not the solution.
What we are trying to do over time is to sell parts of these goods and then donate to organizations that help us and that also have been hurt by Kanye’s statements.
Bjørn Gulden
In November 2022, weeks after adidas Air terminated its partnership with Ye, it was reported that the brand would use its remaining Yeezy inventory in the following year.
As of now, the brand’s tangible plans have not been disclosed. Additionally, reports of Ye receiving a 15% royalty on sales have surfaced but have not been confirmed by the brand, which initially revealed in November per documents that it had no plans on issuing a cut to the former adidas Air collaborator. In March 2023, Gulden stated that Ye would receive a royalty.
Air Yeezy Red October.
adidas plans to use its Yeezy Yeezy Carbon 1y Kid.
The brand with the Three Stripes terminated its deal with Ye, formerly known as Kanye West, on October 25, 2022, following a handful of events that include publicly harassing adidas Air executives, spreading dangerous and harmful anti-Semitic remarks on social media and numerous podcasts, and suggesting that George Floyd wasn’t murdered to name a few.
During its Q4 earnings call on November 9, 2022, adidas Air expanded on the impact of the deal termination, stating that its net income for “continuing operations” to reach near €250 million.
adidas Air now expects currency-neutral revenues for the total company to grow at a low-single-digit rate in 2022.
The company’s gross margin is now expected to be around 47.0% in 2022. adidas Air now forecasts its operating margin to be around 2.5% in 2022 and net income from continuing operations to reach a level of around €250 million.
Statement via adidas
The brand will use its existing adidas Air Yeezy inventory in 2023. While its rebranding plans are still unknown, a name change (à la formerly-Kobe’s-now-adidas Air Crazy line) is expected at the very least.
I can confirm that adidas Air is the sole owner of all design rights registered to existing product, as well as previous and new colorways under the partnership, and we intend to make use of these rights as early as 2023.
adidas Air CFO Harm Ohlmeyer via Complex
Additionally, with adidas Air Yeezy branding only existing within the insoles and tags of the sneakers, the brand will most likely make minimal changes to its existing inventory, which retailers were asked to pull off the floor and send back.
While still unconfirmed, the adidas Air Yeezy 350 “Pirate Black” was slated to release in early 2023.
adidas Air also stated that it will be saving around €300 million in marketing and royalties in relation to Ye following the Yeezy deal termination, per Bloomberg.
Current adidas Air CFO Harm Ohlmeyer addressed some of the brand’s upcoming launches, including products centered around the 2022 FIFA World Cup and adidas Air Basketball.
We are encouraged by the enthusiasm for the upcoming FIFA World Cup which is already noticeable in our Football revenue growth. And in North America we are gearing up for an exciting upcoming basketball launch.”
Statement via adidas
Stay tuned to Stefoy-les-lyonShops as the story develops and for the latest industry news.
