Kanye West didn’t mean antisemitic comments, says Adidas CEO Bjorn Gulden
Last year, Adidas ended its lucrative collaboration with West following a series of offensive and antisemitic comments.
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Last year, Adidas ended its lucrative collaboration with West following a series of offensive and antisemitic comments.
Despite his setback in 2022, when Adidas severed ties with his Yeezy brand, West remains a top figure among the global Black elite.
West purchased the property, which consists of three bedrooms and four bathrooms, in 2003 for $1.75 million.
Adidas’ adept maneuvering following its separation from West has ensured its resilience, with significant gains in share value and market capitalization.
The recent downturn came shortly after the German sportswear giant announced the launch of the second sale of West’s Yeezy sneakers.
In May, Adidas announced its decision to sell off the inventory of Yeezy sneakers created in partnership with West.
This marks the first release of the Yeezy sneakers following the termination of Adidas’ collaboration with West in October 2022.
West’s stake in Skims is now worth $200 million, a $40-million increase from its value of $160 million at the start of the year.
Adidas claims that $75 million was transferred to two of Yeezy and West’s bank accounts, but both parties “mishandled virtually all of the marketing funds.”
While this marks a victory for West, the dispute is far from over as Adidas and Yeezy will now proceed with private arbitration.
Gap’s lawsuit against West and his Yeezy brand focuses on unapproved alterations made to a rental property in Los Angeles.
Adidas will sell $1 billion worth of Yeezy shoes made with Kanye West.
The impact of the fallout with the West-led brand hit sales in the reported quarter by around $441.56 million.
Despite recent setbacks, West remains one of the world’s richest Black individuals.
West is one of the world’s richest Black people.
Before his multi-year deal with Adidas to design the sneaker brand Yeezy was terminated, Kanye West had a net worth of $2 billion.