Goldman Sachs Warns of Government Shutdown Risk as House Blocks Spending Package, Deadline Nears 
Nintendo Switch 2 Dock Leak Hints at Faster Performance but 4K Output Reportedly Capped at 30 FPS 
Social Security Overhaul Passes in Congress Leaving Experts Divided Over Program’s Financial Future 
Japan Core Inflation Rises as Food and Fuel Costs Soar Putting BOJ Under Rate Hike Pressure 
CNN's 'Historic Ratings Collapse' in 2024 Election Year Raises Industry Concerns 
Effective Crisis Management for iGaming Brands 
American Airlines to ‘End DEI Hiring Practices’ After Complaint Sparks Federal Intervention and Policy Review 
US Grants $6.75 Billion in Chips Awards to Samsung, Texas Instruments, and Amkor for Manufacturing Boom 
Tesla Robotaxi Mystery Deepens as Undisclosed City Nears a Breakthrough Launch With Officials Involved 
Trump Teases TikTok’s Fate in the US as ByteDance Faces a Critical Supreme Court Battle 
Apple Eyes AI Leadership in China by Partnering with Tencent and ByteDance for iPhone Integration 
Digital Real Estate: How SEO Expertise Becomes a Valuable Investment Asset in the Modern Economy 
Starbucks Union Strike Expands Nationwide as Baristas Demand Higher Wages, Better Schedules, and Fair Staffing 
Biden’s $300M Contracts to Reuters ‘Target Elon Musk’ as Federal Agencies Investigate His Companies: Report 
Adidas and Kanye West reportedly agreed to work together again just to sell the remaining YEEZY sneakers worth $500 million. The new deal is believed to be about the sale of select non-branded YEEZYs.
The renewed partnership between Adidas and Kanye West, who is now simply known as Ye, will not involve any production for new designs. The German sneaker and sportswear apparel firm just wants to get rid of its YEEZY stocks to reduce losses after it severed ties with the American rapper and music producer.
As per HypeBeast, rumors about the agreement have been circulating on social media and the web. This comes a few weeks after it was reported that Adidas is set to lose $1.3 billion due to unsold products and items from its previous partnership with Ye.
It was in October of last year when Adidas cancelled its contract with West. The company made the decision after the rapper posted a series of anti-semitic comments on social media. His controversial posts led to the termination of his contracts with major brands.
Aside from Adidas, Balenciaga and CAA talent agency parted ways with Ye. Retailers have pulled out branded products associated with the singer, and he lost his billionaire status because of contract cancellations.
XXL Mag reported that Adidas and Kanye West had collaborated for 10 years before their partnership ended last year. The artist was said to have tried looking for a new company to house his brand but has not been successful. In any case, the reported new deal between Ye and the sneaker maker has yet to be officially confirmed by both parties.
"The numbers speak for themselves. We are currently not performing the way we should," Adidas' chief executive officer, Bjørn Gulden, said about the blow to the company's profit margins after pulling out Yeezys from stores. "2023 will be a year of transition to set the base to again be a growing and profitable company."
He added, "We need to put the pieces back together again, but I am convinced that over time we will make Adidas shine again but we need some time."
Photo by: David Lezcano/Unsplash
