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Ye is Being Sued by Adidas for $250M and Alleges Fake Yeezys
Adidas Announces Yeezy Sell-Off Amidst Ye's Concerns
Adidas has recently disclosed its plan to sell off its remaining Yeezy inventory, sparking speculation about the ongoing saga between Ye and the brand, especially after Ye was pictured with Adidas CEO Bjørn Gulden. However, a surprising turn of events unfolded when Ye expressed dissatisfaction with the decision.
Ye's Critique of Adidas and Legal Allegations
Ye took to social media to criticize Adidas for releasing unauthorized Yeezy colorways, branding them as "fake" and alleging non-payment for them. Specifically, he called out the soon-to-be-released "Steel Grey" Yeezy Boost 350 V2 in his post.
In a video statement, Ye made startling allegations that Adidas is suing him for $250 million, although no concrete evidence supports this claim. He also revealed that he would not be receiving royalties, despite reportedly being entitled to 15 percent of sales under their previous contract. Ye also noted on his instagram post that his true supporters would never purchase anything that is not approved by Ye himself.
Previous allegations and partnership termination between Ye and Adidas
This isn't the first time Ye has accused Adidas of releasing "fake Yeezys." In June 2022, he accused the brand of copying his Yeezy Slide design with the introduction of the Adilette 22 Slides.
After Ye's termination from Adidas in October 2022 due to controversial remarks, the brand has been deliberating how to manage its remaining Yeezy inventory. Despite reporting a loss of $441 million for its first quarter of 2023, Adidas announced plans to resume Yeezy sales in May 2023. However, in November, Adidas revealed it had €300 million worth of Yeezys remaining but paused sales due to concerns about potential backlash associated with Ye.
New release details and retail pricing on the Adidas Yeezy 350 V2 Steel Blue
Despite Ye's objections to the upcoming Yeezy releases, consumers still interested in the Yeezy Boost 350 V2 Steel Grey can sign up to purchase it on Feb. 29 via the Adidas Confirmed app for $230. Additionally, it's important to note a new detail regarding the sign-up process. Adidas will place a temporary charge when you sign up for the drop. If you're selected, this charge will be retained. However, if you're not chosen, the temporary charge will be refunded.
