Kanye West has taken his trolling to a new level, reportedly setting up the new Yeezy headquarters next door to an adidas store in Los Angeles.
According to a post from Ye fan site Donda Times on Wednesday (May 3), the new office is located on Melrose Ave. between Laurel and N. Edinburgh – with just a hair salon separating the brand and its former distributor, adidas.
The news comes months after a report that the Yeezy brand’s last known office location was facing eviction after missing two months of rent worth $63,254. Ye first leased the 15,000 square feet of office space in 2015 when Yeezy was known as West Brands Fashion.
At the lease signing, Yeezy originally agreed to pay $31,477.40 per month and did so in full before missing the payments for November and December. It’s unclear if that’s why he moved offices or if he officially has, but it could be the reason why if so.
Ye set up the new YEEZY Office next to the Adidas store in Los Angeles
Let him cook pic.twitter.com/3ROewdsvNZ
— Donda Times (@dondatimes) May 3, 2023
adidas was forced to sever ties with Ye and his Yeezy clothing line after the controversial Chicago rapper went on multiple antisemitic tirades in 2022. In February 2023, he 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. However, 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 $500million.
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 it’s 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 it’s unable to repurpose the remaining Yeezy clothes, with CEO Bjørn 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 Kanye’s 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 doesn’t want to give Kanye another penny of its money.
[via]
