Adidas and Kanye West, who goes by Ye, have concluded all legal disputes.
- The resolution follows a series of lawsuits stemming from Adidas ending their partnership in 2022.
- The split was initiated after West’s contentious remarks in 2022.
- Adidas’s CEO confirmed no financial settlements were included in the agreement.
- The company has been selling leftover products from their past collaborations.
Adidas and Kanye West have reached a decisive agreement that concludes all legal matters between them. This marks an end to the ongoing disputes that have persisted for the past two years, following Adidas’s termination of their partnership with West. The decision to dissolve the professional relationship was influenced by West’s controversial statements that surfaced in 2022.
In a recent conference call, Adidas CEO Bjorn Gulden declared that there were “no more open issues” between the company and West. Gulden reassured stakeholders that there is no financial exchange involved in the agreement, emphasizing that both parties are now focusing on moving forward without further conflict.
The partnership’s dissolution led Adidas to an inventory dilemma, with the company holding over £867m in unsold Yeezy merchandise by last year. Determined to manage this stockpile responsibly, Adidas committed to selling the remaining products and donating the proceeds to charitable causes. As of July 2023, the brand successfully offloaded about $565m worth of Yeezy shoes, highlighting the high consumer demand still surrounding the Yeezy brand, despite the controversy.
Reflecting on the resolution, Gulden mentioned that the drama with West “belongs to the past,” signifying a clear intent from Adidas to leave behind any discord and concentrate on future endeavors. The company’s strategic decision to liquidate remaining Yeezy inventory also underscores its commitment to both social responsibility and financial prudence.
Adidas and Kanye West have effectively closed their legal chapter, choosing to focus on new paths forward.
