According to people familiar with the matter, adidas only has the right to sell Yeezy footwear, which has been dominated by Ye
Rapper Ye has taken another step in the fashion business after launching a clothing line with Gap and Balenciaga.
Ye and his legal team filed a trademark application for “YZYSPLY” on June 29, which will be used in retail stores in addition to products such as underwear, outerwear, pajamas, swimwear, accessories and sportswear, according to public documents. , online ordering services and online retail store services, aroused the attention of the industry.
The picture shows the specific information of the “YZYSPLY” trademark application
“YZYSPLY” is the abbreviation of Yeezy’s official account “Yeezy Supply”. The account mainly publishes the sale information of Ye and adidas shoes and clothing series products such as Yeezy Gap. Some people in the industry believe that Ye’s move represents that Yeezy will open a new integration model and is expected to open a physical store and truly become an independent brand.
According to the data, Ye’s first pair of Yeezy sneakers was co-created with Nike, but the two sides parted ways due to the issue of dividends. In 2014, Ye was signed by adidas for $10 million and promised dividends, and soon launched the best-selling Yeezy Boots line of shoes.
From the Yeezy Boost 750 to the Yeezy Boots 350, Yeezy brought adidas’ three-year-long “coconut” phenomenon. To this day, Yeezy remains one of the hottest brands in the world in the sneaker category. According to Uswitch data, adidas’ Yeezy Boots 350 black and red colorway is the most resold sneaker on StockX, with more than 70,000 resale times.
Yeezy brings three-year-old “Yeezy” phenomenon to adidas
With Yeezy shoes selling well, Ye’s fashion ambitions are also expanding. According to people familiar with the matter, adidas only has the right to sell Yeezy footwear, which has always been dominated by Ye. In June last year, Ye and Gap Group reached a cooperation to jointly develop the Yeezy Gap clothing series, officially extending its tentacles to the clothing track.
At the beginning of this year, Yeezy Gap joined the luxury brand Balenciaga under the help of Ye. The first three-party joint YEEZY GAP Engineered series was pre-sold in June, and the second series will be released later this year.
Meanwhile, Ye’s relationship with adidas continued to deteriorate. Last month, Ye posted on Instagram that adidas’ self-designed slippers “obviously copied” Yeezy’s design, thinking that the $55 adidas adilette 22 slippers are in color with the $55 Yeezy Slide “Resin”. , are similar in appearance.
Ye’s relationship with adidas has been deteriorating, and a few days ago, he personally posted a post on Instagram accusing adidas of plagiarizing Yeezy
Yeezy Slide was designed and launched by Ye in 2021, and the secondary market price has exceeded $200. In the post, Ye asked to speak with Adidas CEO Kasper Rørsted, and posted a screenshot of a chat suspected of collaborating with rival Nike, accusing adidas of being unfair. However, Ye later deleted the relevant post, and it is suspected that he has reached a settlement with adidas.
In early January this year, Ye also posted a photo of the Jordan logo on Instagram, and attached a screenshot of a news report in which Michael Jordan’s son Marcus Jordan claimed that he would lead Ye and his father to collaborate again. The signal to terminate the contract with adidas.
Last year, Ye was also photographed wearing Jordan shoes in public many times, and he himself expressed the hope that adidas would modify the contract so that he could “legally” wear Air Jordan shoes.
In March of this year, Yeezy announced that Nur Abbas, the design director of Nike ACG, was the design director. This is a newly established position for the brand. After taking office, Nur Abbas reports directly to Ye. Nur Abbas was also a ready-to-wear designer at Nikelab before, and served as the chief designer of Uniqlo menswear and a senior menswear designer of Louis Vuitton menswear.
Another analysis believes that the unsuccessful commercialization of Yeezy under the guidance of adidas is also the reason for Ye’s disappointment. Although adidas’ high-end price point and hunger marketing for Yeezy accelerated the growth of brand influence to a certain extent, it also limited its popularity in the mass market, which was contrary to Ye’s vision of popularizing the Yeezy brand.
Due to missing out on the majority of consumers in the market, even if Adidas tried to sink Yeezy, who had too much hunger marketing, into the market after 2018, the effect in the past four years has not met expectations. This year is the 7th year that the first Yeezy was launched. The increase in supply has neither brought the large-scale commercial returns of the Yeezy series itself as scheduled, nor has it driven the revitalization of the fundamentals of the adidas main brand due to its identity as an external cooperation series.
Perhaps realizing Ye’s intention to withdraw, adidas has shifted the focus of brand fashion to trend icon Jerry Lorenzo. On the one hand, he leads the revitalization of the basketball category that has been losing market share, and on the other hand, as the founder of Fear of God, he is trying to open it up. The second Yeezy myth, trying to seize the opportunity to revive the drum in the field of sneaker culture.
At the same time, the adidas Orginals clover business has also moved towards high-end positioning. The recent joint series with Gucci and Balenciaga have shown adidas’ ambitions. However, at a critical moment when adidas was squeezed by lululemon from the throne of the world’s second largest sportswear brand, the loss of Yeezy will undoubtedly cause a further blow to adidas.
After the news was released, adidas stock price fell 2.38% at the opening on Tuesday, and has fallen 38% since the beginning of the year, with the latest market value of 30.5 billion euros.