“There are no more problems”: Adidas resolves its conflict with Kanye West through an amicable agreement

Adidas announced on Tuesday that it had reached an amicable agreement with the controversial American rapper Ye (formerly Kanye West) to end all legal proceedings affecting them for two years, without this agreement being accompanied by financial exchanges.

Adidas and Ye, formerly Kanye West, have been in conflict through lawyers since the brand with the three stripes decided in October 2022 to abruptly end their juicy collaboration, following the American artist’s anti-Semitic comments.

One of the most successful collaborations in the world of fashion.

The leader refused to give more details about the agreement, negotiated outside the courts. “There was tension on many issues, and… when the demands of one side were pitted against the other, both sides said that they no longer needed to fight,” explained Bjørn Gulden.

The collaboration between Adidas and the American star has long been one of the most successful in the world of fashion. Developed since 2014, the “Yeezy” sneaker collection has enjoyed phenomenal success that helped make Kanye West a billionaire. By ending this partnership, Adidas was left with a stock equivalent to 1.2 billion euros in sales.

A story that “belongs to the past”

Instead of destroying it, he decided to sell it in batches and donate part of the profits to associations that fight against racism and anti-Semitism, and recently to his new foundation launched in March, active in the fight against discrimination. The remainder of Yeezy inventory will be sold by the end of 2024 “at cost,” the company wrote.

Bjørn Gulden, for whom the story with the rapper “belongs to the past”, believes that Adidas manages to boost its current sales with other lucrative collections, in particular the ballet flats from the Samba, Gazelle and Campus families, which are selling like hotcakes all over the world. world. world.

In China, the Herzogenaurach group is taking market share from its competitors and “we would not be surprised” if sales increased by 10% or more in the fourth quarter, which is traditionally beneficial,” said Bjørn Gulden on the sidelines of the presentation of the results of the third quarter, already widely revealed in mid-October.