adidas Yeezy Boost 350 v2 "MX Grey"
Adidas cut ties with Kanye West
In early October, American rapper Kanye West provoked a public backlash that accused him of anti-Semitism after wearing a White Lives Matter T-shirt at Fashion Week. In response to the provocation, Adidas terminated the contract with the artist, in collaboration with whom they released iconic Yeezy sneakers.
Due to the termination of the contract, the German corporation will lose about $ 246 million, but adidas noted that this is only a "short-term reduction in profits."
Adidas and West's partnership history began in 2013, all details of the deal are unknown, however it is clear that both parties own certain elements in the Adidas Yeezy project.
In a statement confirming the termination of the Adidas Yeezy partnership, Adidas stated that it is the sole owner of all design rights to existing products, as well as previous and new colorways under the partnership. However, in a 2019 Forbes interview, Kanye West stated that he still owns 100% of Yeezy.
According to American lawyer Jared Goldstein, West may still own the Yeezy name and likeness, but that doesn't give him control over the future of actual shoe designs. This falls under the jurisdiction of the entity that owns the intellectual property, which is Adidas.
For example, Adidas is listed as the applicant and assignee of the US patent for the design of the Adidas Yeezy Boost 350, which was filed in 2016. Nick Galway, Adidas senior vice president of creative direction, is listed as the inventor.
Adidas may re-release designs from archives or re-release designs in new colorways. And according to a report from RBC Capital Markets, Adidas plans to start doing just that: selling Adidas-branded Yeezy designs in the first quarter of 2023 to mitigate the loss of revenue.
In early October, American rapper Kanye West provoked a public backlash that accused him of anti-Semitism after he showed up at Fashion Week wearing a T-shirt that read...
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Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
How to fire a worker without tears, scandal and trial
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