Kanye West news and archive

Adidas tackles inventory woes with strategic Yeezy shoe sale

Adidas has at last addressed the conspicuous overhang of 1.2 billion euros worth of Yeezy sneakers that has been weighing down its inventory. In a move aimed at rectifying the situation, the German sportswear giant confirmed its plan to sell the unsold Yeezy shoes while allocating a portion of the proceeds to charitable causes. Adidas CEO, Björn...

Business

Kanye West and Yeezy ordered to pay 300,000 dollars to snubbed creator

As another day passes, another Kanye West saga has unravelled. The rapper-turned-designer and his brand Yeezy have now been ordered to pay over 300,000 dollars to New York-based creative Katelyn Mooney after failing to attend a court session. A default judgement was filed in Mooney’s favour at Manhattan Supreme Court when no legal representative...

BusinessFeatured

Adidas hit with lawsuit from shareholders over Kanye West partnership

In another blow for Adidas, the sportswear giant is now facing a class action lawsuit from investors claiming that it knew about Kanye West’s controversial conduct prior to cutting off its partnership with the rapper. In the lawsuit, which was filed with a federal court in Oregon, shareholders of the brand alleged it was aware of West’s...

BusinessFeatured

Will Adidas destroy, donate or sell off its Yeezy sneaker stock?

2022 was not a good year for Adidas. With slowing sales in China, a sanctioned Russia and a Yeezy crisis, 2023 has already been christened with a probable operating loss of 700 million euros. This is largely due to the mountain of Yeezy stock Adidas has to reconcile. The options are limited. Selling the stock would lessen the losses but no doubt...

BusinessFeatured

Adidas and Ye reportedly reach 500 million dollar deal to sell remaining Yeezy stock

Sportswear giant Adidas is said to have reached a new agreement with rapper-turned-designer Ye, formerly Kanye West, following the termination of its partnership with Yeezy. The reports come in relation to rumours currently circulating online and through social media, where it has been noted that the German brand has struck up a new deal with Ye...

Business |OPINION Featured

Adidas has a billion dollar Yeezy problem

When Adidas quietly closed the Yeezy Supply website last week, it was a marker of an inventory problem that is far from resolved. With thousands of unsold pairs in the German sportswear giant’s warehouses, Adidas will take its first loss in three decades if its Yeezy sneakers are not sold. Adidas shares fell 12 percent on Friday, with the...

Fashion Featured

10 of the most viral fashion moments from 2022

Conversations regularly erupted on social media and the online world as whole this year, as a wide range of news from within fashion became ‘viral’ – a term used to describe topics that circulate rapidly on the internet. FashionUnited has compiled a list of occasions that sparked the biggest online discussions of 2022, influencing movements,...

People

Kanye estimates two billion dollar losses following anti-Semitic rants

Kanye West lost two billion dollars in a single day, he said Thursday, as business partners rushed to dump the rapper in the wake of a series of anti-Semitic outbursts. The music and fashion mogul has seen lucrative commercial tie-ups shelved as companies including Adidas and Gap took fright at comments dubbed hate speech by activists. "I lost...

Business

Resale platforms join in cutting Yeezy products amid backlash over Ye’s hate speech

A number of major resale platforms have joined in the growing backlash against Ye, the rapper formerly known as Kanye West, following his regular bouts of hate speech and controversial behaviour. The RealReal is among those that have denounced the rapper’s remarks against the Black and Jewish communities, with the platform stating it would no...

Business

Skechers releases statement after Ye shows up at headquarters unannounced

Footwear giant Skechers has affirmed that it has “no intention” to work with Ye, formerly Kanye West, after the controversial artist appeared at the company’s Los Angeles headquarters unannounced. The rapper, who has just had partnerships with the likes of Adidas and Balenciaga scrapped due to his recent hate speech, showed up at Skechers’...

Business |Opinion Featured

Adidas splits from Yeezy, what next?

When Adidas and Kanye West began their partnership in 2013, there was little to suggest the Yeezy brand would scale to the hugely successful and profitable range it is today. Representing 7 percent of Adidas revenue with an estimated annual turnover of 1.8 billion dollars according to the New York Post, cutting ties with Ye, as Mr West prefers...

Business

Gap to remove Yeezy Gap products from stores immediately

Gap, which ended its partnership with Ye, formerly Kanye West, in September, have confirmed it is accelerating the removal of Yeezy Gap products from its store and have shut down the dedicated website for the brand. In a statement, Gap said: “In September, Gap announced ending its Yeezy Gap partnership. Our former partner’s recent remarks and...