Adidas is formally ending a stormy chapter with Kanye West, announcing an end to all the litigation that Adidas filed against the artist commonly known as Yeezy. The German sportswear giant broke up with Kanye in 2022, following pressure from the American Jewish Committee over controversial antisemitic comments by the rapper. The split left Adidas holding a significant stock of unsold products from Yeezy, estimated at a value of around €1.2 billion.
Adidas Chief Executive Bjorn Gulden confirmed for the first time on Tuesday that an out-of-court settlement had been reached with Kanye, putting a final full stop on the two parties’ court battles. Gulden said there was no financial exchange, as part of the resolution, and underlined that “the drama with West belongs to the past.” The company has not given out the fine points of the settlement; however, it has made it clear that all remaining inventory of Yeezy would be sold by the end of 2024, thus allowing Adidas finally to turn the page on one of the most high-profile partnerships.
This deal allows Adidas and Kanye West to move on with their lives since the era it closes brought not only considerable controversy and public backlash but also one that brought massive losses. This also marks a strategic shift for Adidas as the sportswear company wraps up one of the most profitable, yet highly contentious, collaborations.