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Kanye West has reportedly reached an agreement with adidas that would see the company unload the remaining designs in the Yeezy collection.

Kanye West has reportedly reached an agreement with adidas that would see the company unload the remaining designs in the Yeezy collection. According to reports from multiple outlets, the new contract would allow adidas to release and promote the existing product created under their previous deal with West. It does not make any provisions for a continuation of the collection. Reports put the value of the remaining Yeezy x adidas products at approximately $500 million. The deal would allow the athletic company to make up for the projected loss it reported earlier this month View this post on Instagram A post shared by Business | Motivation | Technology (@wealth) adidas has blamed Kanye directly for the financial loss that came as a result of the brand severing their deal, which so far is estimated to be around $1.3billion in 2023. According to a statement obtained by TMZ the brand is in possession of numerous Yeezy designs its unable to sell. adidas had previously claimed in November it was going to repurpose said designs under a different name . The statement added that adidas could be drained of an additional $534million if its unable to repurpose the remaining Yeezy clothes, with CEO Bjrn Gulden adding that the numbers speak for themselves. We are currently not performing the way we should, Gulden wrote, adding 2023 will serve as a transitional year for the company. There is reportedly a clause in Kanyes contract with adidas that states the Chicago hitmaker would receive a reduced fee if Yeezy designs were sold without his affiliation, but adidas informed TMZ it doesnt want to give Kanye another penny of its money. Read more