Instead of completely ditching the Yeezy brand, Adidas has confirmed speculation that it will rebrand the fashion line after cutting ties with rapper Kanye West over his antisemitic remarks in October. Adidas Chief Financial Officer Harm Ohlmeyer boldly claimed that despite West’s name being attached to the brand, Yeezy does not own the designs. “Adidas is the sole owner of all design rights registered to existing product,” he said. “We intend to make use of these rights as early as 2023.” When asked to elaborate, he merely said that Adidas “owns all the versions and new colorways. It’s our IP.” Adidas was criticized for its delayed reaction to West’s antisemitic comments, taking weeks to end its partnership after predicting it aimed to lose $247 million over the relationship. According to outside estimates the collaboration accounts for as much as 8 percent of Adidas’ revenue. Ohlmeyer did not say when the rebranding was expected, only “when the time is right.”