Kanye trademarks new business idea – ‘YZY’ sock shoes

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Kanye trademarks new business idea – ‘YZY’ sock shoes

Kanye West may have lost favor with much of the public but that hasn’t stopped him from keeping on with new business ventures.

According to TMZ, the controversial musician and fashion designer’s Mascotte Holdings Inc. recently applied to trademark “YZY SOCK SHOES.”

In the documents filed on Thursday (May 4), Ye offered a brief description of his latest creation, writing: “Socks; socks with leather soles,” appearing to mimic the trendy sock boot.

As for a proposed retailer, none was disclosed.

The news comes hot on the heels of adidas announcing the plans for its stockpile of Yeezy shoes, after months of debating over the fate of millions of unsold kicks.

On Thursday (May 11), during its annual shareholders meeting, the German athletic and footwear brand — which cut ties with Ye last year over his antisemitic remarks as well as visiting Alex Jones’ InfoWars — revealed that speaking with several nongovernmental organizations, even destroying the now-defunct brand’s inventory were among the ideas to do away with the unsold sneakers. Though, the company ultimately settled on a more humanitarian route.

“Burning those shoes cannot be the solution,” said CEO Bjorn Gulden. “What we are trying to do now over time is to sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements,”

However, details of the company’s plan — such as to whom, when, and how many of the shoes will be sold — were not shared.

In its fourth quarter, adidas lost $1.3billion due to the loss of Yeezy revenue. A further $441million in losses occurred over the last two quarters, making the decision to sell lingering products a financial one rather than what Gulden referred to as a “reputational risk” for adidas.

Prior to this, the Chicago native had reached an agreement with adidas to sell nearly $500,000 worth of Yeezy inventory after months of back and forth.

In other related news, 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 recent post from Ye fan site Donda Times, 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.