Kanye making headlines is not unheard of. He is directing his hostility at Adidas, who he has partnered with since 2013 for his groundbreaking shoe and apparel-line, YEEZY.
Yeezy to date has earned $1.7 billion in annual revenue in 2021. The brand continues to sell out in all its iconic shoe styles and keeps customers waiting for more drops to come. Given their high demand, YEEZY shoes are continuously marked up hundreds of dollars, depending on the style.
Kanye understands YEEZY’s value to Adidas, which is what fuels his frustration with the prolific shoe brand. Adidas, starting this summer, has been creating shoes like YEEZY, but with no association with West or his brand. West has taken to social media to express his disdain for the company for infringing on his IP.
It all comes down to who owns the IP in the YEEZY brand and the terms in Kanye’s contract with Adidas. Kanye claims to own 100% of YEEZY, which could relate to the name, trade dress, and the brand’s goodwill and recognition. But it also could be true that Adidas owns the IP related to anything YEEZY, which gives them control to rerelease the shoes and color ways of how they see fit.
Above is the Adidas created Adilette 22 slide that West describes as a “fake Yeezy created by Adidas itself”. The right is the Yeezy slide created by West in 2019.
At this point, Adidas has offered West a $1 Billion dollar buyout for the YEEZY brand itself, but Kanye claims to have $500 million this year in royalties owed alone. When entering brand partnerships, Vivid IP always recommends for their clients to set clear terms as to who owns each and every element in a trademark.
Elements in a trademark can include the name, font, color, and stylization, to name a few. A clearly written contract can ensure the right party retains the rights in each element and how far those rights extend.
Vivid IP stands ready to assist with all trademark matters, especially brand partnerships and licensing.
