Adidas and Kanye West reach an amicable settlement after years of legal disputes

After years of legal wrangling, Adidas reached an amicable out-of-court settlement with rapper Kanye West (now known as Ye) without any financial exchange.

“There (are) no more open issues and there is no … money going either way,” Adidas chief executive Bjorn Gulden told reporters on Tuesday, without giving details of the deal.

“There were tensions on many issues (but) … both sides said we don’t have to fight anymore,” Gulden added. “No one owes anyone anything anymore. Whatever it was, it’s history.”

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A sign advertises Yeezy shoes made by Adidas at Kickclusive, a resale sneaker store, in Paramus, NJ on October 25, 2022. – Credit: Seth Wenig/AP Photo

Adidas and West originally joined forces in 2014 following West’s split from Nike, creating one of the most successful collaborations in sportswear history that helped propel West to billionaire status.

However, Adidas severed ties with the rapper in October 2022 following him antisemitic comments which they found “unacceptable, hateful and dangerous”.

At the time, the 24-time Grammy-winning rapper, who is said to be struggling with mental health, professed his admiration for Hitler and the Nazis during an interview with far-right radio host Alex Jones, and voiced. more antisemitic remarks on X (formerly Twitter).

The German sportswear outfit’s decision to cut ties has left the brand with 1.2 billion euros ($1.3 billion) worth of Yeezy sneakers piled up in warehouses. The company decided to sell some of the remaining shoes in batches, with two released last year and another that was released earlier this year, and donate a portion of the proceeds to anti-hate groups.

Of the €300m profit it made from sales of Yeezy shoes last year, the company said it has donated or plans to donate over 140 million euros (approx. USD 152 million).

The company expects all Yeezy stock to be sold by the end of 2024.