German multinational Adidas has concluded all legal matters involving American rapper Kanye West, also known as Yeezy.
Adidas initially cut ties with the rapper in 2022 amid calls from the American Jewish Committee (AJC) over his antisemitic remarks.
On the 29th of October, 2024, Adidas CEO Bjorn Gulden announced that an out-of-court settlement had been reached, bringing an end to all legal actions without any financial exchange.
“The drama with West belongs to the past. Negotiations and settlements have been done”, Bjorn Gulden mentioned, though he didn’t disclose specifics of the agreement.
Recall that When their partnership concluded in 2022, Adidas was left holding Yeezy inventory valued at roughly €1.2 billion (£840 million).
Now that the legal issues have been resolved, the company announced plans to sell off the remaining Yeezy stock by the close of 2024.