Adidas has settled its dispute with rapper and producer Kanye West out of court and the parties no longer have any claims against each other. This was reported by the Financial Times in reference to the company’s CEO, Bjorn Gulden.
“Gulden said Tuesday that both sides have decided to abandon their mutual claims.” – says the publication.
It is clarified that giving up the litigation will allow the company to save about 100 million euros, which is planned to be used for charity. The company will do the same with profits from the sale of Yeezy brand sneakers left in warehouses. According to the CEO, they will be sold out at the end of this year, ending the brand’s relationship with West.
As reported EADailyKanye West has been designing shoes and clothing for Adidas under the Yeezy brand since 2015. The contract was valid until 2026. Adidas called the work with West the most successful collaboration in the history of the industry. However, in 2022, the company announced its refusal to cooperate with the musician due to his statements, which were described as “inappropriate, hateful and dangerous.” In particular, it was one of the publications on the social network X, after which users accused West of anti-Semitism.
