Kanye West is certain that he will make up for the money he lost from the broken Adidas deal.
The clothing company broke its relationship with the rapper and record producer in 2022 because of comments West had made at the time that were antisemitic, as AFROTECHTM had previously informed you. Adidas consequently stopped making any Yeezy-branded merchandise and stopped paying West and his businesses.
“Hate speech of any kind, including antisemitism, is not tolerated by Adidas. The business said in a news release that Ye’s recent remarks and deeds “have been unacceptable, hateful, and dangerous, and they viоlate the company’s values of diversity and inclusion, mutual respect, and fairness.” “The company has decided to immediately dissolve the agreement with Ye, stop producing Yeezy-branded products, and cease paying any money to Ye and his enterprises after conducting a thorough examination. Adidas has decided to immediately halt its Yeezy operation.
Adidas loosened its stance in May 2023 when it declared it will sell the last of its Yeezy merchandise. A percentage of the sales would go to charities that combat prejudice and bigotry, such as racism and antisemitism.
This decision was made after the corporation acknowledged that the breakup with West was “hurting” its business and that it had caused a 20% decline in North American sales.
The effects were felt by West as well. Forbes estimates that his partnership with Adidas added $1.5 billiоn to his net worth, which decreased to $400 million by October 2022 following their separation.
Since then, the father of four has decided to take matters into his own hands and has started selling his own goods on Yeezy.com. The current price point for every item is $20, which was a decision made by West when he first offered the idea to Gap. He made it clear to Gap that he was looking for “modern, elevated basics for me𝚗, wоmen, and kids at accessible price points,” according to Uproxx.
All things considered, the Chicago, Illinois native is confident he will recover his alleged $8 billiоn in losses from Adidas.
“I can confidently declare, ‘You know what, I lost $8 billiоn.’” In an interview with “BigBoyTV,” West stated, “We still going to get that money back and still be in a better position than Adidas someday.”
There might be some validity to what West said. After he used his phone to record an advertisement for Yeezy products during Suρer Bowl LVIII, West revealed that he had made milliоns of dollars in sales in only one day.
In an interview with “BigBoyTV,” West claimed, “I said boom, we’re going to do this for $20. Then we did the Suρer Bowl and the fact that I was able to show factual $19.3 million of sales in one day.”
“The next day was $15 million,” he said. $11 million was made the following day, but it happened all in one day at the same time the song was released. This was ultimately just the two of us and the people.
Despite the ups and downs in his career, West—a rapper turned fashion designer—continues to produce art, rebuild his empire, and use fashion and music as a means of self-expression.