It looks like it’s for real this time.
The idea of continuing to sell Yeezy product does not sit well with adidas CEO Bjørn Gulden. Gulden is even opposed to selling Yeezy products without the Yeezy name on them. For that reason, during a recent earnings call, Gulden made it clear that the Yeezy product was created by Kanye West, and the company?s strategy does not involve selling his designs without the Yeezy brand. Furthermore, adidas is looking to manage the aftermath, clear the inventory, and eventually build a business that does not involve Kanye West or the Yeezy brand.
Statements from adidas CEO Bjørn Gulden also cleared up the future of adidas Yeezy. ?The Yeezy product is something that he created, he?s the inventor of it and we have been his partner. To take his designs and sell them off later, which we technically legally could do, is not part of our strategy,? Gulden said. ?Our task now is to limit the damage, get rid of the inventory, use the proceeds to good ? and build a business later without Yeezy.?
It goes without saying that adidas profited heavily from the return of adidas Yeezy as they neeted roughly $560 million back in May alone. Their focus moving forward will be the core business. While ?slightly better than [they] expected,? sales in North America were down by 16%, a number that would likely have been larger if the brand had not continued selling Yeezy product. As additional releases are rolled out through August and beyond, adidas? top and bottom line are sure to benefit. That said, once they officially rid themselves of all association with Kanye, it remains unclear what will become of the adidas entity.
In Jordan Brand news, the Air Jordan 12 Field Purple drops on August 12th.
via: Retail Dive