Sports brand Adidas and rapper Ye (formerly Kanye West) officially ended their legal dispute that stemmed from ending the partnership with the rapper and his Yeezy brand.
The settlement between both parties comes two years after Adidas cut ties with Ye in 2022 over antisemitic allegations against the latter. The German sportswear brand noted that no money will be exchanged between them, amid the end of all legal proceedings.
Adidas CEO Bjorn Gulden announced on Tuesday, October 29, that all the claims were withdrawn, adding that neither side will pay the other as part of the settlement.
“No one owes anybody anything anymore. So whatever was is history,” Gulden said.
Collaboration between the two began in 2014, quickly becoming one of the most successful business deals, catapulting Ye to billionaire status. The sportswear tie-ups pushed Yeezy to the limelight, with several collections introduced over time.
However, in 2022, Adidas announced that they would be ending their partnership with the rapper, citing that his comments were “unacceptable, hateful, and dangerous” and that they would not tolerate antisemitism and any sort of hate speech. This came after Ye’s controversial statements and actions.
The messy split resulted in a great loss in sales for the last three months of 2022. However, the brand mentioned that they managed to boost sales with other shoe collections such as the Samba, Gazelle, and Campus ranges.
The remaining Yeezy stocks will be sold by the end of 2024.
