The Adidas chief financial officer Harm Ohlmeyer states:
"Harm Ohlmeyer
“There is not one YEEZY shoe left, it has all been sold and that episode is behind us.”
"
According to statistics from Reuters, the infamous rapper has had significant financial impacts on Adidas. Upon their collaboration, he boosted their relevancy in the market to maintain healthy competition with Nike. The success was due to the YEEZY shoe collaboration. However, after controversial anti-semitic remarks made in 2022, Adidas was forced to terminate their partnership. Eventually, the brand worked towards liquidating all items and donating the majority of proceeds to charity.
Adidas has always shown transparency with the impact of sales YEEZY cultivates for the brand and how it has suffered since its partnership ended. Reportedly, there is a 2% decline in North American sales due to significantly lower YEEZY purchases. In 2023, much of the proceeds were given to anti-semitic charities and organizations. Additionally, in 2023, sales were marked at €200 million EUR, and inventory from the previous year with €300 million EUR in operating profit, leaving €260 million EUR for charitable donations.
Although this controversy was in the past, recently, Ye further expressed the same opinion with a Super Bowl ad and a t-shirt with a swastika online. As a result, Shopify, the platform hosting his website, shut down Ye's e-commerce site. Around this time, he took to social media, ranting about his opinions. Since the site censoring, he has hinted at YEEZY stores coming soon. There has been no additional information released besides a statement posted. Despite his insensitivity, the media will stay up to date on whether there is any truth to his online hint.
The Ye and Adidas was a transformative partnership that pushed the lifestyle and sneaker industry into a new trend and aesthetic. It’s disappointing that Ye and Adidas had to come to an end because of hate. This union was inspiring and leveraged growth from both parties. To say that it’s a shame for it to end is an understatement. Furthermore, this is reflective of the importance of brand ethics and how those are the qualities that personalize a product. There is power in attention, and as consumers, it’s a responsibility where those who are rewarded should be worthy.