Home Entertainment Investors Sue Adidas Over Yeezy Partnership With Kanye West

Investors Sue Adidas Over Yeezy Partnership With Kanye West


Adidas has been sued by investors over their Yeezy Partnership with Kanye West — which began in 2013.

According to reports, adidas was recently sued by investors in an Oregon courtroom after claims that the apparel company was allegedly made aware of the risks associated with continuing a partnership Ye prior to his anti-semitic outbursts last year.

In the lawsuit, investors in the company said that in a 2018 annual report, adidas reportedly disregarded the issues with their partnership with Kanye West by  “generally alluding” to the risks “rather than stating that the company had actually considered ending the partnership as a result of West’s personal behavior.”

In February 2023, Kanye West reportedly reached an agreement with adidas that would see the company unload the remaining designs in the Yeezy collection.

According to reports from multiple outlets, the new contract would allow adidas to release and promote the existing product created under their previous deal with West. However, it does not make any provisions for a continuation of the collection.

Reports put the value of the remaining Yeezy x adidas products at approximately $500 million.

adidas has blamed Kanye directly for the financial loss that came as a result of the brand severing their deal, which so far is estimated to be around $1.3 billion in 2023.

According to a statement obtained by TMZ, the brand is in possession of numerous Yeezy designs it’s unable to sell. adidas had previously claimed in November it was going to repurpose said designs under a different name.

The statement added that adidas could be drained of an additional $534million if it’s unable to repurpose the remaining Yeezy clothes, with CEO Bjørn Gulden adding that “the numbers speak for themselves.”

“We are currently not performing the way we should,” Gulden wrote, adding 2023 will serve as a transitional year for the company. There is reportedly a clause in Kanye’s contract with adidas that states the Chicago hitmaker would receive a reduced fee if Yeezy designs were sold without his affiliation, but adidas informed TMZ it doesn’t want to give Kanye another penny of its money.

adidas was forced to sever ties with Ye and his Yeezy clothing line after the controversial Chicago rapper went on multiple antisemitic tirades in 2022.

Ye has been criticized for months over his repeated antisemitic comments, and despite the pushback and financial loss he’s endured, has continued to double down on his love of bigoted German mass murderer Adolf Hitler.

Previous articleExploring Africa on a Budget: 5 Cheapest Countries to Visit
Next articleUnveiling the Anticipated Vodafone Ghana Music Awards 2023: Here Are What to Expect on the Day
Monte OZ is a highly accomplished and respected international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger based in Africa. With a passion for storytelling, a sense of adventure, and an eye for all things captivating, Monte has become a prominent figure in the world of travel, entertainment, and lifestyle journalism. Born and raised in Africa, Monte developed a deep appreciation for the continent's diverse cultures, rich heritage, and vibrant entertainment scene. His upbringing fueled his desire to share Africa's untold stories and showcase its dynamic lifestyle to a global audience. Monte's extensive experience and expertise have made him a sought-after authority on all things related to travel, adventure, entertainment, and lifestyle in Africa. As an international freelance journalist, Monte has made significant contributions to various prestigious publications worldwide. His captivating articles, insightful interviews, and engaging features have graced the pages of leading entertainment magazines, lifestyle publications, and reputable news outlets. Monte's unique ability to capture the essence of Africa's entertainment and lifestyle scene has garnered widespread acclaim and recognition. With a love for exploration and a thirst for adrenaline, Monte also thrives as an active adventure reporter. He has embarked on daring expeditions, immersing himself in Africa's wild landscapes, and documenting his adrenaline-pumping experiences. Whether it's conquering treacherous peaks, exploring remote jungles, or engaging in heart-pounding activities, Monte's adventurous spirit and daring escapades inspire readers to embrace their own sense of adventure. In addition to his work in journalism and adventure reporting, Monte is a leading entertainment & lifestyle blogger in Africa. Through his influential blog, he offers readers an insider's view of the continent's vibrant entertainment scene, trendy hotspots, fashion trends, culinary delights, and cultural experiences. Monte's unique blend of storytelling, personal insights, and expert recommendations has made his blog a go-to resource for entertainment and lifestyle enthusiasts seeking the pulse of Africa's dynamic culture. Beyond his professional pursuits, Monte is a passionate advocate for promoting Africa's talent, creativity, and cultural diversity. He actively supports and champions emerging artists, musicians, designers, and entrepreneurs, helping to showcase their work to a broader audience. Monte's dedication to promoting Africa's vibrant entertainment and lifestyle industry has positioned him as a respected influencer and tastemaker within the African and global entertainment communities. With a commitment to excellence, a passion for exploration, and a talent for captivating storytelling, Monte Oz continues to captivate audiences worldwide. As an international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger, his work has left an indelible mark on the world of journalism, travel, and entertainment, solidifying his position as a trusted authority and go-to resource for all things related to African travel, adventure, and lifestyle.