The company said (and it was expected) that they would continue to work with Yeezy designs.
German sports brand Adidas has no intention of abandoning Yeezy's original designs and looks, developed through a years-long partnership with Kanye West.
Despite the fact that the company finally terminated the agreement with West at the end of October, products developed under the Yeezy brand will continue to be sold in the sports giant's branded stores.
The announcement was made as part of a press conference on Adidas' third quarter 2022 financial and operating results. The company said (and it was expected) that they would continue to work with Yeezy designs - of course, without branding.
In an updated forecast for 2022, Adidas expects to generate revenues of around $250 million, up from the $500 million it was targeting before the latest split with West.
Earlier, it was announced about the reshuffle in the top management of Adidas - after Kasper Rorsted leaves the company, Harm Ohlmayer will become the interim CEO of the company, and the former head of Puma, Bjorn Gulden, will take the place of financial director.
As for the Yeezy claims, Adidas emphasized that they own all rights to the developed designs created as part of the collaboration. The company expects to save about $300 million in royalties and marketing payments that could have been paid to West in 2023. Thus, Adidas will continue to release all the models created under the Yeezy project, but under its own brand.