Kanye West and Adidas is rumored to have restored their business partnership few months after their split.
This comes after Adidas ‘cut ties’ with the rapper and axed all of his deals, prompting other top brands to take similar action against him in response to his antisemic comments.
The fallout between Adidas and Kanye West began when the rapper made anti-Semitic comments towards top latent star, Ari Emmanuel, which resulted in the entire Jewish community venting their displeasure on the rapper, primarily usually causes Adidas to end their relationship with him following his anti-Jewish comment.
Nonetheless, his next antisemitic comment came when Kanye stated emphatically that Late George Floyd was killed by a Fentyle overdose rather than by police brutality, prompting the entire black community to condemn him for his heinous remark.
George Floyd’s family, particularly his daughter, did not take it lightly and sued Ye for $250 million after making false claims about his father’s death.
Even though Kanye West apologised to the black community and the Jewish community who were offended, other top brands such as Balenciaga, Footlocker, Gap, JP Morgan Chase, MRC, and United Talent Agency backed away from the rapper, reportedly losing over $2 billion dollars in a single day.
However, On Friday, February 23, Kanye West and Adidas are said to have reached an agreement to sell any unsold Yeezy products, with the 350 “Pirate Black” being one of the first to hit the market.
According to the report, Adidas has over $1.3 billion in unsold Yeezy merchandise, with the 350 ‘Pirate Black’ being one of the first releases potentially likely to cost the company over $750 million after cutting ties with Kanye West.
The company’s CEO Bjorn Gulden also warned that ‘it better to we pay $2Billion and have him than to loss more than $2Billion’.
Meanwhile, other companies (JP Morgan Chase and Balenciaga) that severed ties with Kanye West are currently experiencing financial losses.
Rumors are circulating that Kanye West and Adidas could be restoring their business relationship. Adidas may lose around $1 Billion after severing ties with Kanye. pic.twitter.com/FPpZtQZV5k
— Daily Loud (@DailyLoud) February 20, 2023