Adidas plans to continue using the Yeezy designs even after the end of the collaboration with Kanye West. The sports goods manufacturer from Herzogenaurach is said to have announced this on Wednesday morning at a telephone conference on the results of the third quarter, reports the specialist magazine Business of Fashion (BoF).
The sports goods company owns the intellectual property rights, design and color rights, said CFO Harm Ohlmeyer. An exception should be the name ‘Yeezy’. Adidas plans to use the rights as early as next year. As a result, the company would also expect savings of €300 million in 2023, which would go to West and Yeezy in the form of licensing and marketing payments, according to BoF.
When announcing the results for the third quarter, Adidas again lowered its full-year guidance as the Yeezy products will no longer be sold in the fourth quarter. When the company ended the cooperation at the end of October after West’s anti-Semitic statements, it expected a negative impact of up to 250 million euros on profits.