Adidas and Kanye West settled all claims two years after the scandal. The company cut ties with Ye following a series of offensive statements. The brand has now reached an out-of-court settlement with the rapper, putting an end to any claims surrounding the sportswear manufacturer’s decision to end the partnership.
“Both sides said we don’t need to fight anymore and withdrew all allegations,” Adidas CEO Bjorn Gulden told Bloomberg in a phone interview. He added that the deal does not include any payments.
The sportswear company was left with approximately $1.3 billion worth of unsold Yeezy shoes and products (RUB 126 billion). Note ed.) after the partnership ended and has been slowly sold off ever since. It plans to retire the brand by the end of this year.
Yesterday, it was learned that Kanye West bought a new mansion in Beverly Hills after selling his previous house.
Source: People Talk
Mary Crossley is an author at “The Fashion Vibes”. She is a seasoned journalist who is dedicated to delivering the latest news to her readers. With a keen sense of what’s important, Mary covers a wide range of topics, from politics to lifestyle and everything in between.
