Adidas says it’s still selling Kanye West sneakers, but without the Yeezy name

Adidas ended its sneaker partnership with Ye, formerly known as Kanye West, last month after the musician’s anti-Semitic rant. But the sports brand will continue to sell the lucrative line of sneakers and apparel stripped of the Yeezy name and branding.

The company said it is the sole owner of all design rights to the Yeezy line for existing and future colors and versions. Selling the shoes under Adidas’ own brand will save the company about $300 million in royalty payments and marketing fees.

“Going forward, we will leverage existing inventory with exact plans being developed as we speak,” Adidas Chief Financial Officer Harm Ohlmeyer said Wednesday.

The Yeezy line was a key product for Adidas, and the breakup hurt the company.

Yeezy products generated nearly $2 billion in sales last year for Adidas, accounting for 8% of the company’s total sales, according to Morgan Stanley.

The line also helped Adidas gain shelf space at major retailers and brought new customers to stores that purchased other Adidas merchandise.

The termination of the partnership cost Adidas more than $250 million in profit and $500 million in lost revenue, the company said on Wednesday.

On Tuesday, Adidas said it was appointing a new CEO, choosing the Puma boss to succeed former CEO Kasper Rorsted.

Norwegian Bjørn Gulden, 57, will become CEO of Adidas next year. He will have to find ways to replace Yeezy’s sales and revert the brand. Adidas shares have dropped about 80% in the last two years.

It would be a mistake for Adidas to continue selling the line, said Darcey Jupp, an apparel analyst at GlobalData.

“He should refrain from relaunching items under his own brand as they will always be synonymous with West, and this would likely result in quiet customer demand,” he said in a note to customers.