Yeezy Archives - Page 4 of 10

Adidas To Donate Yeezy Proceeds To ADL & George Floyd Foundation

May 20, 2023 by newhiphopnews

Adidas has announced that it will be donating the proceeds from sales of the surplus of Yeezy sneakers to the Anti-Defamation League as well as the Philonise & Keeta Floyd Institute for Social Change. CEO Bjørn Gulden revealed the company’s decision in a press release on Friday. The company has more than $1 billion worth of leftover Yeezy sneakers.

“After careful consideration, we have decided to begin releasing some of the remaining adidas YEEZY products,” Gulden said in a press release. He further explained: “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.”

Kanye West Working With Adidas

HOLLYWOOD, CA – JUNE 28: Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye West announce the future of their partnership: adidas + KANYE WEST (Photo by Jonathan Leibson/Getty Images for ADIDAS)

“At a time when antisemitism has reached historic levels in the U.S. and is rising globally, we appreciate how adidas turned a negative situation into a very positive outcome,” ADL CEO Jonathan A. Greenblatt added in the statement. “They have shown real thoughtfulness in engaging with community organizations working to combat this pernicious and stubborn hatred. Their leadership, in not only condemning anti-Jewish hate but lending their support for education and other initiatives, is exemplary and a model for other public companies to emulate. We thank them for their ongoing dialogue around their remaining inventory and their vested interest in tackling issues of prejudice and hate.”

The decision comes after Adidas cut off ties with Kanye West. During a Drink Champs interview in October 2022, West falsely claimed that George Floyd died because of fentanyl and not from Minneapolis police officer Derek Chauvin placing his knee on his neck. He also made antisemitic remarks many times throughout the year.

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Adidas Yeezy Restock Date Allegedly Leaks Online

May 18, 2023 by newhiphopnews

As we reported last week, Adidas and Kanye West have come to terms on an official Adidas Yeezy sell-off. Overall, Adidas and Yeezy had put themselves in a bad spot. Firstly, Kanye was stripped of all of his resources as it pertains to selling sneakers. Adidas was responsible for distributing Yeezys, and without them, West hasn’t been able to start selling shoes again. However, on the other side of the coin, Adidas has lost hundreds of millions of dollars worth of revenue. They have been sitting on over $500 million worth of Yeezys, which has left them with some significant operations losses.

Although, now, the remaining Adidas Yeezy sneakers will be sold off as a way for Adidas to recoup some cash. Furthermore, Ye will get his 15 percent royalty, while some of the profits will go to organizations that combat anti-Semitism. Needless to say, this is a solution that clearly works for both parties. However, fans have been wondering when this sell-off will take place. According to Sneaker Bar Detroit, Adidas India may have accidentally leaked this information.

The Adidas Yeezy Restock Happens Soon

As the report states, Adidas India posted a graphic on its website that showcased a plethora of Adidas Yeezy sneakers. This includes the 350 V2, Foam Runner, Slides, Yeezy 500, and even the Yeezy 450. Furthermore, it was also stated on the website that this restock would take place on June 1st. As soon as people caught on to what was happening, the images and graphics were taken down.

That said, this could serve as a solid barometer for when fans can expect these drops to happen. Unfortunately, no information as it pertains to the United States has been released. Hopefully, some new information is revealed very soon. Let us know which Adidas Yeezy colorways you are hoping to see from this drop, in the comments section below. Additionally, stay tuned to HNHH for more news and updates from around the sneaker world.

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Kanye West’s Wife Bianca Censori Poses Almost Nude For Yeezy

May 17, 2023 by newhiphopnews

Kanye West has been trying to get the Yeezy train back together. Overall, it has been a rough go for the disgraced artist as he was dropped by Adidas. Now, he has to go about his Yeezy brand independently. Although this is not an easy task, he does have some people helping him. One of those people is none other than his new wife Bianca Censori. Little is known about his new life partner, however, they have been spotted with one another quite a bit over these past few weeks. Whether it be Chick-Fil-A or just a stroll through Los Angeles.

In terms of Yeezy, Kanye West has Bianca Censori working on the modeling side. Some people have noted her resemblance to Kim Kardashian, although that is beside the point. The Yeezy brand is going in a wild new direction, and Censori is getting to be a part of it. Moreover, it seems like Kanye is putting his Christian faith into his new designs. According to TMZ, a new Yeezy collection created with the help of designer Mowalola Ogunlesi is filled with crosses.

Kanye West Gives Bianca Censori Very Little To Work With

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Ogunlesi posted the new Yeezy collection on their Instagram page. As you can see above, Censori is front and center in this campaign as she wears high-heel leggings that definitely make a statement. Moreover, she is almost naked in these pictures as she has nothing but tape covering up her chest. Lastly, her butt is covered in tape as well, however, it is shaped like a cross. Overall, it makes for a very bizarre minimalist outfit that is going to turn some heads. Kanye West loves to be provocative, and that is what we are seeing here.

At this point, it remains to be seen how this outfit would look in a retail sense. However, we have a feeling this is simply meant to promote whatever clothes Kanye actually wants to come out with. Either way, this is a head-turner, as well as a bit of a head-scratcher. Let us know what you think of this design, in the comments section below. Additionally, stay tuned to HNHH for more news from the streetwear world.

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Kanye West Files Trademark For “YZY Sock Shoes”

May 13, 2023 by newhiphopnews

Ye, formerly Kayne West, has lost a lot of his mainstream appeal in recent months. His anti-Semitic tirade on Twitter cost him a lot of fans, as well as his incredibly lucrative partnership with Addidas. Despite claiming he wanted to step away from the spotlight, the musician is still finding ways to generate controversy. This comes alongside news that Ye is still co-parenting his children alongside his ex-wife, Kim Kardashian.

In terms of controversy, much of it revolves around his various fashion lines. The Yeezy Season 10 fashion show had several elements that commentators noted were linked to Nazism and white supremacy. Furthermore, he just also recently ordered to pay $300k in the lawsuit surrounding YZY SHADZ. Safe to say the fashion side of things isn’t going great. But in the midst of all this, and his Presidential run, Ye is somehow still innovating.

Ye Files Sock Shoe Trademark

LOS ANGELES, CA – OCTOBER 28: Kanye West aka Ye is seen on October 28, 2022 in Los Angeles, California (Photo by MEGA/GC Images)

According to TMZ, Ye’s Mascotte Holdings Inc. submitted a trademark for “YZY SOCK SHOES”. The identifying information provides the additional description of “Socks; socks with leather soles.” This is not actually a new idea from Ye, who was seen wearing a similar product in 2019. However, little more than the trademark submission and the document identifier exist at this time. Ye and YZY are yet to make a public announcement about the upcoming project.

Read More: Drake clowned for $415 socks

As for who might sell the Sock Shoes, if they ever hit the market. Addidas is out for obvious reasons. Meanwhile, other major companies and retailers will likely avoid working with Ye if possible. While he could sell them directly through the Yeezy brand, it’s unclear how much operational capacity the company still retains. However, Ye is set to make some money the coming months. It was reported that Addidas will sell off the remaining stock of Yeezys, which is valued at over $1 billion. Ye will make 15% of that sale per his contract with Addidas. How do you feel about sock shoes? Let us know in the comments.

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Kanye West Net Worth 2023: What Is Ye Worth?

May 11, 2023 by newhiphopnews

Kanye West, now known as Ye, is a multi-talented artist and entrepreneur. This staggering wealth can be attributed to his various successful ventures, including his illustrious music career and lucrative fashion line. In this article, we’ll delve into how Kanye West’s net worth has soared over the years and what factors have contributed to his immense fortune.

Kanye West Net Worth

With a net worth of $500 million as of 2023, according to Celebrity Net Worth, Ye is one of the richest rappers in the world.

Music Career: The Foundation Of Kanye West’s Net Worth

INDIO, CALIFORNIA – APRIL 21: Kanye West performs Sunday Service during the 2019 Coachella Valley Music And Arts Festival on April 21, 2019 in Indio, California. (Photo by Rich Fury/Getty Images for Coachella)

Kanye West began his career as a music producer, working with industry giants such as Jay-Z, Beyoncé, and Alicia Keys. However, it was his debut album, The College Dropout, that propelled him to stardom in 2004. Kanye has since released numerous chart-topping albums, including Late Registration, Graduation, 808s & Heartbreak, My Beautiful Dark Twisted Fantasy, Yeezus, The Life of Pablo, Ye, and Jesus Is King.

His music has earned him 22 Grammy Awards, making him one of the most awarded artists of all time. Additionally, his record sales and concert tours have generated hundreds of millions of dollars in revenue, forming the foundation of his net worth.

Yeezy

HOLLYWOOD, CA – JUNE 28: (L-R) adidas CMO Eric Liedtke and Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye West announce the future of their partnership: adidas + KANYE WEST. (Photo by Jonathan Leibson/Getty Images for ADIDAS)

Beyond his music career, Kanye West has made a significant impact on the fashion industry with his Yeezy brand. Initially launched in collaboration with Nike in 2009, Yeezy later partnered with Adidas in 2013. The Yeezy Boost sneakers, released in 2015, quickly became a cultural phenomenon and are now highly sought-after items.

Forbes reported that Yeezy generated over $1.5 billion in sales in 2020, with Kanye receiving royalties of around $191 million. The continued success of the Yeezy brand has played a pivotal role in boosting Kanye West’s net worth.

Other Ventures

AUSTIN, TX – MARCH 19: Kanye West performs during VEVO Presents: G.O.O.D. Music at VEVO Power Station on March 19, 2011 in Austin, Texas. (Photo by Daniel Boczarski/Getty Images for VEVO)

Kanye West has further diversified his income through various other ventures. He founded the record label G.O.O.D. Music in 2004, which signed popular artists such as Big Sean, Pusha T, and Teyana Taylor. Additionally, he has ventured into the film industry, directing and producing the short film Runaway in 2010 and the 2019 IMAX film Jesus Is King.

Moreover, Kanye has invested in several businesses, including music streaming service Tidal and food chain Fatburger. These diverse ventures have contributed to his overall net worth, solidifying his status as a multi-talented entrepreneur.

Philanthropy

Kanye West has used his wealth to support various charitable causes throughout his career. He founded the Kanye West Foundation in 2003, which aimed to help combat the high school dropout rate and provide resources for music education. Later, he launched the Donda West Foundation in honor of his mother. Kanye has continued to donate to various causes, including disaster relief efforts, education initiatives, and social justice organizations.

Conclusion/TLDR

Kanye West’s $500 million net worth is a testament to his diverse talents, relentless work ethic, and innovative spirit. From his groundbreaking music to his influential fashion brand, Kanye has left an indelible mark on the entertainment industry. As he continues to pursue new ventures, there’s no doubt that Kanye West’s net worth will remain a topic of interest for years to come.

Adidas Decided On A Plan To Sell The Remaining Yeezy Inventory After Parting Ways With Kanye West

May 11, 2023 by newhiphopnews

Earlier this month, it was revealed that Adidas has over $1.3 billion of unsold product from their partnership with Kanye West. In a conference, Adidas CEO Bjorn Gulden said that “options are narrowing,” but the company was “getting closer and closer to making a decision.”

Today (May 11), Gulden shared that they will sell the remaining product and a portion of proceeds will be donated to charity, according to Complex. The rapper will reportedly receive 15 percent of sales due to the contract. Gulden reasoned that “burning several million pairs [of shoes] does not make sense.”

“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 said.

Adidas severed their ties with West in October of last year. A statement at the time read: “Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect, and fairness. After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products, and stop all payments to Ye and his companies. Adidas will stop the Adidas Yeezy business with immediate effect.”

Adidas Reveals Plans To Sell Its Leftover Yeezy Stock

May 11, 2023 by newhiphopnews

Overall, the Yeezy and Adidas fallout has been terrible for both sides. On one hand, Kanye West has lost his sneaker empire. He only has the right to one of his designs, and without Adidas, he has no means to produce his shoes on a grand scale. Moreover, he has completely ruined his reputation with the whole Nazi obsession. As for Adidas, well, they are looking at a massive operations loss that could be upwards of three-quarters of $1 billion. Additionally, it has been said that they have close to $1 billion in unsold Yeezy stock.

For months, Adidas has been contemplating what it should do with these sneakers and apparel. There have been rumors that they would sell the shoes and make back their losses. However, others have noted that they could end up destroying the stock. According to Complex, Adidas has opted to go with the former option. During a shareholder meeting today, Adidas CEO Bjørn Gulden made it abundantly clear that selling the stock is the best course of action.

Kanye Will Get His Yeezy Royalty

Kanye West onstage at adidas Creates 747 Warehouse St. – an event in basketball culture on February 17, 2018 in Los Angeles, California. (Photo by Neilson Barnard/Getty Images for adidas)

“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 said. Essentially, Kanye will still get that 15 percent royalty he has always been entitled to. However, as Gulden said, most of the proceeds will go to charity. For Adidas, they simply do not want to waste money by burning a bunch of shoes. With their current financial situation in mind, they are looking to make back as much profit as possible.

For now, the details surrounding which colorways and models will be released is unknown. Moreover, we don’t even know when this fire sale will happen. That said, stay tuned to HNHH for all of the latest news and updates from around the sneaker world. Additionally, let us know which models you want to see get sold, in the comments below.

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Unreleased Yeezy MX Slide Surfaces Online

May 11, 2023 by newhiphopnews

One of the more lowkey silhouettes to come out of the Kanye West sneaker project is the Yeezy MX Slide. Although Yeezy is in a state of limbo right now, there are still plenty of people out there who are fascinated by what he might drop next. Overall, the Yeezy project with Adidas was a huge success. They moved billions of dollars worth of products. Additionally, Adidas was seen as the most culturally relevant brand in the world for a while. Now, however, things have changed for the worse.

On one hand, Adidas is seeing hundreds of millions of dollars worth of losses. Meanwhile, Kanye’s net worth has taken a hit. He basically has no leg to stand on in negotiations with other brands, and for the most part, people are done with him. Considering his anti-semitic rants, it is easy to see how this is the case. Regardless, the Yeezy brand still has the potential to move the needle with sneakerheads. As for the aforementioned Yeezy MX Slide, it appears as though there were colorways that were vaulted.

A Unique Yeezy MX Slide

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A post shared by zSneakerHeadz (@zsneakerheadz)

Thanks to a string of images from @thesoleservice and @zsneakerheadz, we now have a look at a Yeezy MX Slide that was left unreleased. As you can see above, this is a very interesting model. Firstly, we get some creamy beige at the base here. Secondly, blue and brown brushstrokes are featured all the way around the upper. When you put this all together, you get a shoe that looks very unique. Although, there is no doubt that these would have been a polarizing release.

As it stands, it remains pretty obvious that these are never going to come out and hit the market. Why would they? Kanye has no way of manufacturing his sneakers right now. Moreover, he is running a Presidential campaign that is taking time away from the Yeezy brand. At this point, you would be hard-pressed to find anyone who would shell out lots of money for these. Let us know what you think of this Yeezy MX Slide, in the comments section below. Additionally, stay tuned to HNHH for the latest news and updates from around the sneaker world.

Adidas Hit With Catastrophic Losses Amid Kanye Fallout

May 5, 2023 by newhiphopnews

In case you haven’t noticed, Adidas is struggling right now. Overall, there is a very good reason for this. However, it is still a big problem for the brand. Recently, they had to cut all ties with Kanye West. In the end, he didn’t really leave them much of a choice. Although he had made lots of money for them, his moral character was just simply too disturbing to keep around. After a Nazi obsession that had fans cutting him off, Adidas pulled the plug. Consequently, they are feeling the effects.

According to XXL, Adidas released a first-quarter report today. CEO Bjørn Gulden was very upfront and brutally honest in this report. As it stands, Adidas is looking at a $771 million operating loss this year. Moreover, they already have $661 million in lost sales, as well as a $565 million net loss. To make matters even worse, they have $1.3 billion worth of Yeezy products that they can’t do anything with. This includes over $500 million in sneakers.

Adidas Is Having A Rough Go Of Things

Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye West announce the future of their partnership: adidas + KANYE WEST (Photo by Jonathan Leibson/Getty Images for ADIDAS)

“The adverse Yeezy impact and negative currency developments weighed on the gross margin development,” The Adidas CEO explained. “This could not be offset by the significant positive effect from the price increases the company has implemented…Should the company irrevocably decide not to repurpose any of the existing Yeezy product going forward, this would result in the potential write-off of the existing Yeezy inventory and would lower the company’s operating profit by an additional [$551] million this year.”

At this point, Adidas has some very difficult decisions to make. With Yeezy gone from the brand, they will have to reinvent themselves. While some fans will always love the three stripes imprint, the hype is completely gone. Hype is usually unsustainable, and Adidas has figured that out the hard way. Let us know what you think of this, in the comments section down below. Additionally, stay tuned to HNHH for the latest news from around the sneaker world.

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Adidas Still Has Over $1 Billion In Yeezy Products Sitting Around It Doesn’t Know What To With

May 5, 2023 by newhiphopnews

Kanye West Adidas Yeezy 2016 — Getty Image

When Kanye West and Adidas ended their business partnership last year, it left the athletic apparel giant in a bind. According to Associated Press via Rolling Stone, that’s left the athletic apparel company with $1.3 billion of unsold product with which it does not know what to do. Adidas CEO Bjorn Gulden said during a conference call today that “options are narrowing,” but the company is “getting closer and closer to making a decision.”

Unfortunately, there’s no real win here for Adidas, since selling the shoes would force the company to pay royalties to West, while removing the Yeezy branding could be seen as dishonest. Giving them away means lost profit as does destroying them all, which Adidas is “trying to avoid.” Gulden also didn’t want to reveal just how much backstock the company is sitting on because of the effect that could have on demand, but did admit that the split is “of course hurting us.”

However, it likely would have hurt Adidas — a company with questionable origins — even more, in the long run, to keep Kanye on. The mercurial rapper had always been a controversial figure but became downright toxic last year, sharing antisemitic views on social media and in a string of bizarre interviews with right-wing figures. He also terrorized employees at Adidas, even displaying porn during meetings — an HR nightmare if ever there was one.

Adidas could take even more of a hit now that shareholders have filed a class-action lawsuit against the company for not cutting ties with Kanye sooner. The suit claims that higher-ups at Adidas knew Kanye was a liability and kept working with him anyway, deeming the risk to its stock price worth it for the revenue the association generated. Adidas’ response said its leaders “outright reject these unfounded claims,” but between losing its Kanye and Beyoncé partnerships in the span of a year, the company can’t deny it’s made some costly mistakes.