Kanye West reportedly opens new Yeezy office next to Adidas

nme.com:

Kanye West has reportedly opened a new Yeezy office in Los Angeles next door to a building owned by Adidas.West partnered with Adidas under the Yeezy banner in late 2013, with their first joint collection then debuting in 2015.Last year, Adidas ended its long-running partnership with West and Yeezy in October over the rapper’s string of antisemitic comments, with the brand calling his actions “unacceptable, hateful and dangerous”.Now, a post from fan site Donda Times appears to reveal that the new Yeezy office is located on Los Angeles’ Melrose Avenue, between Laurel and North Edinburgh streets.All that separates the new office from the Adidas building is a hairdressers.A post shared by HipHopDX (@hiphopdx)Back in February, Adidas warned of potential major profit losses after severing ties with West last year.Following a “thorough review”, it was confirmed that the brand would immediately stop production of its line of Yeezy products and halt payments to the artist and his companies.Adidas said that it was expected to take a hit of up to €250million (£217million) to its net income in 2022 as a result of the decision.

Now, as BBC News reports, Adidas has published its financial guidance for 2023 in which the sports giant refers to “the significant adverse impact from not selling the existing [Yeezy] stock”.Last November, it was reported that Adidas’ chief executive and other senior figures at the company had talked about the potential fallout from its relationship with West as long as four years prior.It came after a report from Rolling Stone made claims over the treatment of employees at Yeezy, with some ex-staff alleging a “cult-like atmosphere” at the brand’s office.