Following the cancellation of the Yeezy fashion collaboration, Kanye West has reached a settlement with Adidas.
After the embattled rapper made a string of antisemitic remarks on social media in October of 2022, executives at the German sportswear brand abruptly ended the partnership.
On Tuesday (10.29,) following years of legal battles and private arbitration over the decision, chief executive Bjørn Gulden confirmed that all previously reported claims had been resolved and that each party had agreed not to pay the other any additional money.
According to the BBC, Gulden stated “There (aren’t) any more open issues and there is no… money going either way.” “There were tensions on many issues (but)… both parties said we don’t need to fight any more.”
Insisting that any prior drama with West “belongs to the past,” the Adidas CEO added “When you have conflicts like this, you take provisions and you have legal opinions and there are negotiations and there are settlements being done, and this is the end to it.” “No one owes anything to anybody anymore. Whatever was is history.”
Initially launched in 2015, the Yeezy Boost 750 was a massive success, with consumers waiting in line for hours to purchase a pair of the trainers. Yet following the termination of the Yeezy contract, Adidas was left holding $1,300,000,000.00 worth of unsold footwear.
In lieu of destroying the stock, the Adidas-powers that be opted to sell the shoes and donate some of the proceeds to charities, such as the Anti-Defamation League and The Philonise and Keeta Floyd Institute for Social Change.
At press time, a representative for Kanye West has yet to comment on the aforementioned news.
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Author: Saul Goode
Photo: Unknown Author – Public Domain