Adidas and Kanye West have resolved their legal disputes, closing all related cases.
- The agreement follows several lawsuits initiated by Adidas after terminating their association with West.
- This decision came after West’s controversial antisemitic remarks, leading to the dissolution of their partnership.
- Adidas CEO confirmed there will be no financial transactions between the two parties.
- Adidas plans to sell remaining Yeezy stock, with proceeds intended for charity support.
Adidas has formally settled all legal matters with Kanye West, bringing an end to an extended period of litigation between the sportswear giant and the artist. Previously, Adidas had initiated multiple lawsuits following their decision to sever ties with West. This action was in response to antisemitic comments he made in 2022, prompting Adidas to discontinue their professional relationship.
Bjorn Gulden, CEO of Adidas, stated in a conference call that all issues with West have now been resolved. He noted, “There isn’t any more open issues, and there is no… money going either way, and we both move on.” This statement signifies a mutual agreement to cease all legal confrontations between the involved parties.
Adidas had previously announced its strategy to sell off remaining products from its Yeezy line, with the company holding over £867 million worth of stock at the time of the partnership’s end. The inventory included millions of unsold Yeezy shoes, which have since garnered orders totalling approximately $565 million by mid-2023.
The decision to donate the proceeds from these sales to charitable causes reflects Adidas’s attempt to handle excess stock responsibly while aiming to positively impact communities. This move is part of a broader effort by the company to reconcile its previous association with West’s brand name while adhering to its corporate responsibility objectives.
The resolution marks the end of an extended dispute, allowing both Adidas and Kanye West to move forward independently.
