2024-10-30 02:17:00
Adidas and Kanye West have buried the hatchet. The German company, specializing in the manufacturing of sporting goods, announced on Tuesday that it had reached an amicable agreement with the controversial American rapper, now known as Ye, to put an end to all legal proceedings. concerning them for two years.
The two parties have been in conflict through lawyers since the three-band brand decided in October 2022 to abruptly end their lucrative collaboration, after anti-Semitic remarks from the artist.
A particularly fruitful collaboration
“There are no more open issues, and there are no […] money flowing in one direction or the other,” said Adidas CEO Bjørn Gulden. The leader refused to give more details on the agreement, negotiated outside the courts. “There were tensions on many issues, and […] when you confront the demands of one side and the other, both sides have declared that they no longer need to fight,” he simply explained.
The collaboration between Adidas and the American star has long been one of the most successful in the fashion world. Developed since 2014, the “Yeezy” sneaker collection has enjoyed phenomenal success which helped make Kanye West a billionaire.
“Yeezys” at cost price
By ending this partnership, Adidas was left with stock equivalent to 1.2 billion euros in sales on its hands. Rather than destroying it, he decided to sell it in batches and donate part of the profits to associations fighting against racism and anti-Semitism, and recently to his new foundation launched in March, active in the fight against discrimination. The remainder of Yeezy inventory will be sold by the end of 2024 “at cost,” according to the company.
Bjørn Gulden, for whom the story with the rapper “belongs to the past”, also estimated that Adidas manages to boost its current sales with other lucrative collections, in particular the flat shoes of the Samba, Gazelle and Campus families which are sell like hot cakes across the world.
1730275124
#exchanging #money #Adidas #Kanye #West #conflict
