Kanye West maligned his image due to his anti-Semitic comments which led to severing of ties with various brands and collaborations.
The biggest hit was when Adidas cut ties with the rapper. Due to Adidas' move, Kanye West is no more a billionaire.
Adidas pulled the plug with Yeezy and Kanye West due to anti-Semitism. However, the brand also face the brunt losing $256 million.
It was due to the Yeezy collaboration that Adidas could revive itself after 2013. It was in a dwindling state before.
The collaboration happened when Nike, the German shoe giant's competition surpassed it in terms of design and sales.
In 2016, the shoe mogul had an exponential sales growth i.e., 18%. So, Adidas extended Ye's contract till 2026. In 2022, Yeezy contributed 7% to Adidas' $1.7 billion revenue.
After severing ties, Adidas retained the rights on patterns, silhouttes, and colors of Yeezy. But, according to Financial Times, Adidas have $500 million worth of Yeezys in stocks.
Adidas will continue to sell the Yeezys without Ye's label. In January 2023, it is all set to release the delayed Yeezy 350 V2 'Granite'.