Adidas and Yeezy have seen a significant increase in sales, signaling a positive outlook for the sports company. The pushback in March 2023 proved to be a turning point for Yeezy, as they now expect to see a $491 million operating loss, a considerable improvement from the $764 million loss reported in March. Adidas Anticipates […]
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With Kanye West no longer a part of Adidas’ corporate strategy, the company was left in the awkward position of sitting on a massive supply of unsold Yeezy product and no great options for getting rid of it. Obviously, selling off the back stock would put more royalties in the hands of West just after public sentiment had turned against him (with no guarantee the product would move after it hit shelves), but destroying the kicks would be a huge financial blow. Ultimately, Adidas decided to go with option A, and according to Rolling Stone, it seems like the choice paid off, to the tune of nearly half-a-billion bucks.
In late May, Adidas unvaulted about a quarter of its remaining Yeezy merchandise, and since then, brought in about $437 million. A portion of that profit will be donated to two charities: the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change to offset the harm Kanye’s 2022 media tour caused.
The Philonise & Keeta Floyd Institute is a nonprofit established by the brother of George Floyd; during an interview with Drink Champs, Kanye parroted a racist right-wing conspiracy theory that Floyd died from a fentanyl overdose rather than being suffocated by a police officer in put his knee on Floyd’s neck, despite his protests that he couldn’t breathe. Meanwhile, the Anti-Defamation League is a well-known civil rights organization working to reduce antisemitic harm — which Ye did plenty of over the past year.
Adidas CEO Bjørn Gulden said this option is “much better than destroying and writing off the inventory and allows us to make substantial donations.” The company did not say how much it donated, only that the amount had been discussed with recipients beforehand, and cited its “contractual obligations” with regard to whether Kanye will receive royalties (he will).
Adidas found itself in a bit of a jam a few months ago thanks to the likes of Kanye West. The famous artist decided to go on a pretty wild tirade against Jewish people. Overall, some felt it was just a ploy to get out of his business deals. However, once he started hanging out with Nick Fuentes and going on Info Wars, it became clear that he had lost it. Consequently, the three stripes brand cut ties with Ye, and immediately tried to move on. Unfortunately, that proved to be almost impossible.
The brand quickly realized that it had over $1 billion worth of Yeezy inventory in its warehouses. With profits suffering, Adidas decided to cut a deal with Kanye to sell off the rest of the inventory, once and for all. Once the stock gets sold, Ye and Adidas are done for good. Well, a new restock is happening this week, and many are expressing curiosity over how well the first one went. According to reporting from Rolling Stone, it is a move that definitely worked out in Adidas’ favor.
Read More: Kanye West And Adidas Are Still Battling In Court
As the publication reports, Adidas was able to sell $437 million worth of Yeezys. However, not all of this is going to Adidas directly. Some of this money has to go to Kanye. Moreover, the brand has pledged funds to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change. They are doing this as a way to make up for some of the harm that was done by Ye’s disastrous press run.
With another restock upon us, there is no doubt that the brand will recoup a whole lot more cash. Let us know if you will be copping anything, in the comments section below. Additionally, stay tuned to HNHH for the latest news from around the sneaker world.
Read More: Kanye West: Twitter, Married, Adidas, Albums, Height, Shoes And More
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Ye’s wife Bianca Censori is back in the public eye, spotted around Italy in a revealing bikini and no shoes. According to Page Six, Censori was meeting with Ye in Florence, Italy.
Paired with her bikini top and lack of shoes was a pair of black leggings and a thing silver scary. Her hair is currently in a short pixie cut.
As for Ye, he was spotted at the Balenciaga store in Italy before hitting a gelato shop.
In May, Ye was getting back in his design bag, revealing a new look, which is quite revealing.
Yeezy’s wife, Bianca Censori, highlights new designs, which aren’t too much in the material. Censori wears a black square over her breasts, and it appears Ye’s faith is in the design as a cross covers Censori’s butt crack. Finishing off the look is thigh-high kitten heels.
TMZ notes the designer of the modeled fit is Mowalola Ogunlesi.
Ye recently filing legal documents for the trademark of YEEZY SOCK SHOES. According to Hypebeast, Ye submitted the new design to the United States Patent and Trademark Office on May 4.
The application was filed by Ye’s Mascottee Holdings, Inc., stating the YZY SOCK SHOES will sell “Socks; socks with leather soles.”
Fans saw the YEEZY SOCK SHOES following his YEEZY SEASON 10 show in L.A.
Kanye West and Bianca Censori are seen out in Los Angeles
pic.twitter.com/uq9sEImLka
— Daily Loud (@DailyLoud) May 14, 2023
The post Ye’s Wife, Bianca Censori, Pops Out in Italy Without Shoes first appeared on The Source.
The post Ye’s Wife, Bianca Censori, Pops Out in Italy Without Shoes appeared first on The Source.
In October 2022, Adidas officially ended its partnership with Kanye West, leaving the company with $1 billion worth of unsold Yeezy products and a decision to make about the future of the Yeezy designs. Ultimately, Adidas made the decision to sell off the rest of the stock after a class-action lawsuit filed by Adidas shareholders accused the company of knowing about West’s problematic behavior and not doing enough to mitigate the potential damage.
Now, according to Bloomberg, Adidas and Kanye are locked in another legal dispute over the brand’s marketing fund for Yeezy, which is reportedly worth $100 million a year. According to court filings, Adidas says West “mishandled virtually all of the marketing funds” — using them for different purposes than they were intended. $50 million went to an account in Wyoming, while another $25 million went to Kanye’s JPMorgan Chase account in New York (which has since been closed by the bank in response to Kanye’s antisemitic comments). However, the money was transferred to a separate account for general Yeezy funds, which Adidas says violated the parties’ agreement.
Meanwhile, Kanye’s lawyers reiterate his accusation that Adidas stole Yeezy designs to make lower-priced shoes. According to the terms of the agreement, though, Adidas owns all the designs while Kanye licensed his name and likeness to Adidas. Adidas has requested for Ye’s accounts to be frozen to prevent him from moving the allegedly misappropriated $75 million, which Kanye said he used on Sunday Services. He says the traveling gospel choir performances cost around $50 million.
Unfortunately for Adidas, the account freeze was denied and the dispute is in private arbitration.
Adidas is expanding the availability of Yeezy sneakers into Foot Locker. Sneaker News revealed the sneakers will return to the iconic sneaker chain, and additional sneaker boutiques will carry the line.
Sneaker News notes Foot Locker has not confirmed the eventual sale but cites sources across social media that the sneakers would soon be available.
Additionally, Footwear News reports a company-wide email was sent out after Ye’s initial dismissal. “[Our company does] not tolerate any form of antisemitism or hateful and discriminatory behavior. While we remain a partner with adidas and carry a wide assortment of their collections — we will not be supporting any future Yeezy product drops, and we have instructed our retail operators to pull any existing product from our shelves and digital sites.”
A return to shelves and websites would be a drastic shift from that messaging. The sneakers are believed to launch at Foot Locker in August.
The post Foot Locker Rumored to Launch Sale of Yeezys in August first appeared on The Source.
The post Foot Locker Rumored to Launch Sale of Yeezys in August appeared first on The Source.
The Adidas NMD is a popular sneaker that’s loved by sneakerheads and casual wearers alike. It features a modern and sleek design with a comfortable and sock-like fit. The shoe combines elements of Adidas’ rich heritage with innovative technology, such as the responsive Boost midsole for cushioning and energy return. With its versatile style and wide range of colorways, the Adidas NMD has become a go-to choice for those seeking both comfort and fashion-forward footwear.
This sneaker is the new women’s NMD, so only women’s sizing will be available. This sneaker has gained a strong following among women for several reasons. Its sleek and stylish design complements various outfits, offering versatility and a fashion-forward look. The NMD W1 provides a comfortable fit and features innovative cushioning technology for all-day comfort. Women appreciate the attention to detail in its design, making it a popular choice for those seeking both style and comfort in their footwear.
Read More: Kanye West Court Battle May Continue As Adidas Starts Selling Yeezys Again
The sneaker is released in two different colorways: white and orange. Both pairs are totally covered in their respective color, with the orange pair leaving the Adidas Boost technology white. Also, a tight ankle collar and a soft, breathable textile weave complete the look. The Boost midsole has been expanded, giving the shoe a platform-inspired look, while the midsole plugs have been redesigned with a sleeker shape. The sneaker is the perfect running sneaker, but also a great everyday sneaker for walking around. The comfort of this pair is on another level.
Sneaker Bar Detroit reports that the Adidas NMD W1 will release on July 1st. Also, the sneaker will have a retail price of $160 when it releases. Further, make sure to let us know what you think about these kicks in the comments below. Additionally, stay tuned to HNHH for the most recent updates and news from the sneaker community. We’ll make sure to offer you the newest products from the most notable brands.
Read More: Kanye West Reportedly Did Have Close To $100 Million Frozen By Adidas
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The summer is upon us which means everyone is going to be breaking out their finest white sneakers. Although these kicks are known for getting dirty, those who keep them clean are an impressive bunch. Even though the dirt-potential is high with white shows, they are still perfect for these warmer months. As a result, we have decided to take a look at five incredible white sneakers that are available for purchase over at Stadium Goods.
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One of the best silhouettes on the market right now has to be the New Balance 550. Overall, the resurgence of this silhouette has been a breath of fresh air. It is perfect for the lifestyle crowd and for some, it has replaced the Nike Air Force 1 Low. Moreover, this white and grey color scheme is just perfect for those summer months. If you want to wear something that pairs well with shorts and pants, then these are for you. (Image via Stadium Goods)
The Air Jordan 11 Low is an amazing silhouette. Sure, it may not be as popular as the high-top version, but it still has its merits. Additionally, this “White Cement” color scheme is perfect for the warm weather. With the white upper and grey patent leather wrapped around the silhouette, you end up with something truly special. Not to mention, that icy blue outsole puts the icing on the cake here. (Image via Stadium Goods)
You can’t talk about summer without mentioning the Adidas Samba. As it stands, this sneaker is “the moment” right now. New colorways are constantly being released, however, the white and black colorway is the true classic. Wearing these will make a statement, and they also show that you have fantastic taste in sneakers. This will be a shoe you see a lot of this year. (Image via Stadium Goods)
The second Air Jordan 4 on this list is the “White Oreo” model up above. Firstly, this shoe is wrapped in a nice white leather. Secondly, the midsole here is grey with black speckles. This works out nicely and if you are a person who tends to favor Air Jordan, this is a great summer option. In fact, this is a shoe that we would recommend all-year long. They’re that good. (Image via Stadium Goods)
Lastly, we have added another New Balance to this list. However, this time it is in the form of the New Balance 610. Overall, this is a great casual sneaker that has the dad shoe aesthetic NB is known for. Furthermore, this “Nimbus Cloud” colorway is truly perfect for all of you neutral-tone lovers out there. From the white upper to the beige midsole, this shoe will get you some compliments this summer. (Image via Stadium Goods)
Let us know which of these kicks are your favorite, in the comments section down below.
The post Five Incredible White Sneakers For The Summer appeared first on HotNewHipHop.
The Adidas Response CL is an example of Adidas’ quest for maximum comfort and performance in a sneaker. This sneaker, created for high-performance running, strikes the ideal combination between comfort, responsiveness, and looks. The Adidas Response CL has been a favorite among both athletes and sneaker fans because of its cutting-edge innovations and attention to detail.
Bad Bunny, the Puerto Rican reggaeton superstar, has taken the music industry by storm with his unique style and infectious energy. Known for his catchy beats, captivating performances, and boundary-pushing fashion choices, Bad Bunny has become a cultural icon and a driving force in shaping the contemporary Latin music landscape. The collaboration between Bad Bunny and Adidas brings together the vibrant essence of the artist’s persona and the renowned sportswear brand’s innovative designs, resulting in a collection that seamlessly merges fashion, music, and cultural influence.
Read More: Kendall Jenner & Bad Bunny Go Shopping In Los Angeles
The Adidas Response CL is a sturdy sneaker with lots of support but also manages to achieve great performance. This sneaker in particular is almost entirely black with the exception of a pop of dark blue on the 3 stripes. That same blue color can also be found on the heel of the sneaker. Also on the heel is Bad Bunny’s “third eye” logo. The sneaker is simple, but those who appreciate Bad Bunny and quality sneakers will surely look to buy this sneaker when it releases.
According to Sneaker Bar Detroit, Adidas plans to release the Adidas Response CL x Bad Bunny “Black” on June 24th. Also, it will have a retail price of $160. As always, make sure to let us know what you think about this pair down below in the comments. Additionally, stay updated on HNHH for the latest news and events from around the sneaker world. We will be sure to bring you the biggest releases from the biggest brands around the world. More great new sneakers are expected to be on the way throughout 2023.
Read More: Travis Scott Previews Bad Bunny Collab
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Last October, Adidas ended its partnership with Kanye West, who legally changed his name to Ye, in response to several anti-Semitic comments he’d made. CNBC reported in February — and the likes of the Associated Press and Rolling Stone reported again at the beginning of May — that the abruptly severed relationship left Adidas with $1.3 billion in unsold Yeezy product. On May 11, Adidas CEO Bjorn Gulden revealed the company’s plan to salvage what can be salvaged.
“What we are trying to do now over time is sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements,” Gulden told investors, as relayed by Complex at the time.
That plan came to fruition today, May 31. Adidas’ official website is headlined by Yeezy, advertising that “some of the remaining inventory” of his products are available on the brand’s app, Confirmed, and promising that a “portion from the sale of these items will be donated in support of the fight against discrimination, hate, racism, and antisemitism.”
An accompanying press release details that the benefiting organizations include the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.
“The release will mark the first time that products have been available to consumers since adidas terminated the Yeezy partnership in October 2022,” the press release explains. “The products will be existing designs and designs initiated in 2022 for sale in 2023. Additional releases of existing inventory are currently under consideration, but timing is yet to be determined. Today’s announcement has no immediate impact on the company’s current financial guidance for 2023.”
“After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products,” Gulden said in a statement. “Selling and donating was the preferred option among all organizations and stakeholders we spoke to. We believe this is the best solution as it respects the created designs and produced shoes, it works for our people, resolves an inventory problem, and will have a positive impact in our communities. There is no place in sport or society for hate of any kind and we remain committed to fighting against it.”
The May 31 Yeezy drop comes one day after Billboard reported that Adidas’ request for an emergency order re-freezing of the $75 million held by Yeezy was denied by a federal judge.
