After the fallout with controversial Yeezy founder Ye, adidas is predicting a significant loss of revenue. The German sportswear brand announced that they expect “significant adverse impact” from the tumultuous split projecting revenues to be €1.2 billion.
In another alarm-raising bell, the German sportswear also warned that it could lose an additional €500 million if it does not rebrand and sell the currently existing Yeezy product. Adidas recently came out and confirmed that they were the sole owners of the design rights to all the silhouettes, hinting that the Three Stripes would look to continue the brand without Ye’s influence. Adidas is looking to improve products and enthusiasm around the brand, with recently appointed CEO Bjørn Gulden saying that 2023 “will be a year of transition.”
Though adidas owns the designs, Ye, however, does own the name “Yeezy,” with him recently applying trademarks for YZY SPLY. Stay tuned for more information on this developing story.