Adidas and Ye have decided to bury the hatchet! On October 29, the sportswear giant announced they've reached an out-of-court settlement to resolve all legal disputes stemming from their dramatic split, with no money changing hands in the agreement.
The saga unfolded over two years of lawsuits after Adidas cut ties with the rapper, formerly known as Kanye West, following his antisemitic comments.
‘There are no more open issues, and there’s no money changing hands—just a mutual decision to move on,’ Adidas CEO Bjorn Gulden said during a conference call with reporters. He noted that while tensions existed on various fronts, both parties realized they didn’t need to keep fighting and agreed to withdraw all claims.
On the business front, sales from remaining Yeezy inventory generated about 200 million euros ($215 million) this quarter, down from approximately 350 million euros during the same period last year. However, Adidas reported robust growth in Greater China for the third quarter, with sales in North America (excluding Yeezy products) also increasing due to an improved brand image.
More about Adidas Vs Kanye West
Kanye West made headlines in 2022 for a series of anti-Semitic remarks during interviews and on social media, prompting brands like Adidas and Balenciaga to sever ties with him.
The controversy began at Paris Fashion Week, where he wore a ‘White Lives Matter’ T-shirt, criticized as a response to the Black Lives Matter movement and linked to neo-Nazi groups.
On October 8, 2022, he tweeted he would go ‘death con 3 on JEWISH PEOPLE,’ violating platform policies. This led to backlash from the Anti-Defamation League and resulted in his suspension from Twitter and restrictions on Instagram.
More about Kanye West
Kanye West, now known as Ye, is a multifaceted artist, producer, and fashion designer whose career has been marked by both groundbreaking work and significant controversy.