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Yeezy just jumped over the jump man Business Featured 

Yeezy just jumped over the jump man

In an article first released by TMZ it was reported that Kanye West closed a deal with ADIDAS that have billion dollar potential!

 

So here’s the Skim! 

  • The new “adidas + KANYE WEST” line is the biggest partnership Adidas has ever launched with a non-athlete.
  • Deal worth was not included but TMZ reports potential billion dollar valuation.
  • Yeezy products will include a line for both men and women.
  • The line goes beyond fashion wear into athletic gear.
  • Deezy will also have his own line of retail stores.

 

What does this mean for Nike?

  • Nike missed the mark (pun intended) on Steph Curry over a bible verse he wanted to be written on his trademark shoe. Now they’ve also missed the mark on Kanye. 
  • Kanye West originally left Nike for a $10 million deal with Adidas after severing his creative partnership with Nike.
  • In an interview with Hot 97 he explained that Nike had failed to offer him decent royalties on his Air Deezy shoe. 
  • He also claims Nike delayed the release of his new Red Octobers in order to convince stores to order additional less-desirable stock.
  • Case in point: he felt marginalized. 

 

 

What does this mean for adidas?

  • ADIDAS is destroying the athletic wear competition this year on Wall Street.
  • Shares of the German athletic apparel giant are up more than 30% this year. Nike (NKE) and Under Armour (UA) are both down more than 5%.

 

Final thoughts… With 2 signature athletes winning the championship in Cleveland (Lebron James and Kyrie Irving) Nike thought they were on pace for a great summer. This news changes everything.

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~Vincent Vitale

VincentVitale.com

 

 

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