March 5th 2024.
In a now-deleted post on Instagram, Ye shared what he claims to be an internal document from the company. The document, which was posted on Feb. 26, supposedly outlines talking points for Adidas employees when discussing the Yeezy product line.
According to Ye, the document states that Adidas is the sole owner of the Yeezy brand, including design rights for both current and past colorways. It also mentions that the Yeezy designs were initially created in 2022 and that Adidas fulfilled their contractual obligations by discussing the release of products with their former partner beforehand.
The memo was reportedly distributed last week when Adidas announced their plans to sell the remaining stock of Yeezys. This announcement was followed by Ye's accusations that the company was selling fake Yeezys and was also suing him for a whopping $250 million.
During a video, Ye shared, "This is the document that they give employees at Adidas when asked questions about Yeezy." He continued to express his frustration with the company, claiming that he will not be receiving any profits from the current sales and that they are using their 50 years of business experience and contract clauses to "assault" him.
According to Insider, last summer, Adidas received orders worth a staggering 508 million euros. At one point, the company even planned to write off the Yeezy line for $500 million before reconsidering due to pressure from shareholders. However, in November, an internal memo from Adidas revealed that they decided to postpone the release of Yeezys, even though they had already planned to launch a new batch. It was speculated that this pause was due to the ongoing conflict between Hamas and Israel.
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