Adidas said it plans to continue releasing shoes designed in collaboration with Kanye West without the Yeezy brand, despite ending its partnership with the rapper last month.
The German sportswear brand said it is the “sole owner” of certain design rights and intends to use them next year.
Adidas says yes Ends production of its Yeezy-branded products with ‘instant effects’ In October, after the rapper made anti-Semitic remarks.
The German sportswear company previously said it “does not tolerate anti-Semitism” and called Ye’s recent remarks “dangerous and hateful.”
However, on a conference call to discuss quarterly earnings, Adidas Chief Financial Officer Harm Ohlmeyer said plans are now in the works to “utilize existing inventory,” according to U.S. media reports.
“Adidas is the sole owner of all design rights for existing product registrations,” he said.
“We intend to use these rights as early as 2023.”
Yeezy sneakers have been hugely popular with the company and are highly sought after on the second-hand market, often selling for hundreds of pounds.
The company has been criticized for not taking early action on West’s anti-Semitic remarks on social media
He has previously said he would take part in “Death Hoax 3” against Jews, and recently suggested that slavery in the United States was an option.
The decision to end her partnership with Adidas cost the rapper a spot on the Forbes billionaire list.
The contract is worth around $1.5bn (£1.3bn), according to Business Magazine.
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At the time, Adidas said it expected the decision to have a short-term negative impact of up to 250 million euros on the company’s net income in 2022, given the high seasonality in the fourth quarter.
The rapper’s offensive social media posts and comments cost him a string of business relationships and deals, including deals with U.S. fashion chain Gap and fashion brand Balenciaga.