Adidas accuses Kanye West of ‘mishandling’ $75 million fund: Report
1 year, 5 months ago

Adidas accuses Kanye West of ‘mishandling’ $75 million fund: Report

Live Mint  

Adidas is attempting to recover $75 million from Kanye West, also known as Ye, alleging mishandling of funds. The disagreement centers around a $100 million annual marketing fund, as disclosed in court documents viewed by Insider. Adidas alleges that it deposited $75 million into two Yeezy bank accounts, but according to Bloomberg, Kanye West and his associated companies "mishandled almost all of the marketing funds." In a 2020 interview on Nick Cannon's podcast, Kanye West revealed that he utilized $50 million of the Yeezy marketing funds for his gospel choir tour called "Sunday Service," which also involved arranging flights to Jamaica for 120 individuals.

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History of this topic

Kanye West and Adidas reach settlement over Yeezy partnership termination
1 month, 3 weeks ago

Kanye West and Adidas reach settlement over Yeezy partnership termination

The Independent  

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Adidas and Ye settle all claims, two years after stormy split
1 month, 3 weeks ago

Adidas and Ye settle all claims, two years after stormy split

LA Times  

Sportswear maker Adidas has reached an out-of-court settlement with rapper Ye that concludes all claims connected to the company’s decision to end their partnership two years ago, according to Adidas’ chief executive. “Both parties said we don’t need to fight anymore and withdrew all the claims,” CEO Bjorn Gulden told journalists in a call. So whatever was is history.” The …

Kanye West confirms ‘Yeezy Porn’ site on the way with provocative tweet
8 months ago

Kanye West confirms ‘Yeezy Porn’ site on the way with provocative tweet

The Independent  

Sign up to Roisin O’Connor’s free weekly newsletter Now Hear This for the inside track on all things music Get our Now Hear This email for free Get our Now Hear This email for free SIGN UP I would like to be emailed about offers, events and updates from The Independent. On Wednesday, West – who legally changed his name …

Yeezy shoe sales lead Adidas to $150 million in donations to anti-hate groups
9 months, 1 week ago

Yeezy shoe sales lead Adidas to $150 million in donations to anti-hate groups

LA Times  

A sign advertises Yeezy shoes made by Adidas. Adidas said Wednesday that it’s donated or is planning to give away more than $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes last year after it severed ties with Ye, the rapper formerly known as Kanye West. Net sales of what’s left of …

Adidas May Write off Unsold Yeezy Shoes After Rapper Ye Split
1 year, 1 month ago

Adidas May Write off Unsold Yeezy Shoes After Rapper Ye Split

News 18  

Adidas believes it may have to write off the remaining 300 million euros worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The shoe and sports clothing company, which cut ties with Ye in October 2022 after he made antisemitic remarks online, sold 750 million euros worth of the shoes in …

Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye
1 year, 1 month ago

Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye

Associated Press  

FRANKFURT, Germany — Adidas said it might have to write off the remaining 300 million euros worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The shoe and sports clothing company, which cut ties with Ye in October 2022 after he made antisemitic remarks online, has sold 750 million euros worth …

Kanye West to Jewish Adidas employee: 'Kiss a picture of Hitler every day'
1 year, 1 month ago

Kanye West to Jewish Adidas employee: 'Kiss a picture of Hitler every day'

Raw Story  

An explosive new investigation by the New York Times details how Adidas employees experienced frequent anti-Semitism from Grammy Award-winning rapper and Yeezy designer Kanye West for nearly a decade. He also reportedly told Jewish Adidas executive Jon Wexler, who at the time was Adidas' global director of entertainment and influencer marketing, to "kiss a picture of Hitler every day." That …

Column: If Adidas cut ties with Ye over his antisemitic rants, why is it praising him and selling Yeezys?
1 year, 3 months ago

Column: If Adidas cut ties with Ye over his antisemitic rants, why is it praising him and selling Yeezys?

LA Times  

Yeezy sneakers made by Adidas and Ye, formerly Kanye West, were still on shelves in Miami last October after Ye’s antisemitic remarks. It just came off that way.” One of Ye’s tweets was a threat to “go death con 3 On JEWISH PEOPLE.” Hard to see the misunderstanding. The apparel company did just spend the summer raking in close to …

Adidas CEO doubts if Kanye West’s antisemitic remarks were serious
1 year, 3 months ago

Adidas CEO doubts if Kanye West’s antisemitic remarks were serious

Live Mint  

Adidas CEO Bjørn Gulden said he doubts that Ye, the artist formerly known as Kanye West, "meant what he said” when he made a series of antisemitic and other offensive remarks last year. In a statement at that time, the company said it “does not tolerate antisemitism and any other sort of hate speech.” It added: “Ye’s recent comments and …

Adidas CEO doubts that Kanye West really meant the antisemitic remarks that led Adidas to drop him
1 year, 3 months ago

Adidas CEO doubts that Kanye West really meant the antisemitic remarks that led Adidas to drop him

Associated Press  

SAN FRANCISCO — Adidas CEO Bjørn Gulden said he doubts that Ye, the artist formerly known as Kanye West, “meant what he said” when he made a series of antisemitic and other offensive remarks last year. In a statement at that time, the company said it “does not tolerate antisemitism and any other sort of hate speech.” It added: “Ye’s …

Adidas boss says he doesn’t think Kanye West ‘meant’ antisemitic remarks
1 year, 3 months ago

Adidas boss says he doesn’t think Kanye West ‘meant’ antisemitic remarks

The Independent  

Sign up to Roisin O’Connor’s free weekly newsletter Now Hear This for the inside track on all things music Get our Now Hear This email for free Get our Now Hear This email for free SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Bjørn Gulden, the chief executive …

Adidas is donating Yeezy sales to anti-hate groups. US Jews say it’s making best of bad situation
1 year, 4 months ago

Adidas is donating Yeezy sales to anti-hate groups. US Jews say it’s making best of bad situation

Associated Press  

When Adidas cut ties with Ye, the rapper formerly known as Kanye West, due to his antisemitic comments, it was left with more than a billion dollars worth of high-end Yeezy sneakers. “I would say it’s the best way that they could have possibly handled it,“ said Jeremy Lichtig, campus director of the University of Georgia Hillel, which serves Jewish …

Adidas to release second batch of Yeezy sneakers after breakup with Ye
1 year, 4 months ago

Adidas to release second batch of Yeezy sneakers after breakup with Ye

Associated Press  

FRANKFURT, Germany — Adidas said Friday that it is releasing a second batch of high-end Yeezy sneakers after cutting ties with rapper Ye, formerly known as Kanye West, as the German sportswear brand seeks to unload the unsold shoes while donating to groups fighting antisemitism. Shoes sold directly by Adidas in North America will include blue square pins established by …

Adidas to release second batch of Yeezy sneakers after breakup with Ye
1 year, 4 months ago

Adidas to release second batch of Yeezy sneakers after breakup with Ye

LA Times  

Yeezy shoes are displayed at Laced Up, a sneaker resale store, in Paramus, N.J., in October. After cutting ties with the rapper formerly known as Kanye West, Adidas is releasing a second batch of high-end Yeezy sneakers for sale online Wednesday. Adidas said Friday that it is releasing a second batch of high-end Yeezy sneakers after cutting ties with rapper …

Adidas drops $75 million case against Kanye West’s Yeezy brand. Here’s why
1 year, 6 months ago

Adidas drops $75 million case against Kanye West’s Yeezy brand. Here’s why

Live Mint  

After abruptly ending a federal court case aimed at freezing $75 million held by Kanye West’s Yeezy brand, Adidas decided to put Yeezy shoes back on sale on Wednesday. Adidas' decision to cut ties with Kanye West came after the rapper made some anti-Semitism remarks, leading to an uproar over social media platforms. Frequent clashes Even before the official break-up, …

Adidas begins selling off Yeezy brand sneakers, 7 months after cutting ties with Ye
1 year, 6 months ago

Adidas begins selling off Yeezy brand sneakers, 7 months after cutting ties with Ye

NPR  

Adidas begins selling off Yeezy brand sneakers, 7 months after cutting ties with Ye Enlarge this image toggle caption Adidas Adidas Adidas has begun selling off sneakers that were created in partnership with the artist Ye before the German sportswear company cut ties with the celebrity. Adidas says a "significant amount" of money made from its remaining inventory of the …

Yeezy shoes are back on sale — months after Adidas cut ties with Kanye West
1 year, 6 months ago

Yeezy shoes are back on sale — months after Adidas cut ties with Kanye West

Associated Press  

WASHINGTON — Some of Adidas’ remaining Yeezy shoes are back on sale — months after the German sportswear company cut ties with Ye, the rapper formerly known as Kanye West. In the months that followed, the fate of 1.2 billion euros worth of unsold Yeezys remained unknown — until earlier this month, when Adidas CEO Bjørn Gulden announced the company …

Adidas to start selling leftover Yeezy sneakers later this month
1 year, 7 months ago

Adidas to start selling leftover Yeezy sneakers later this month

Live Mint  

Adidas said Friday that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups. “After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products," said Adidas CEO Bjorn Gulden in a statement. There is no place in …

Adidas to start selling stockpile of Yeezy sneakers later this month
1 year, 7 months ago

Adidas to start selling stockpile of Yeezy sneakers later this month

Associated Press  

NEW YORK — Adidas said Friday that it will begin selling its more than $1 billion worth of leftover Yeezy sneakers later this month, with the proceeds to be donated to various anti-racism groups. “After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products,” said Adidas CEO Bjorn Gulden in a statement. There is …

Adidas to sell off unsold Yeezy stock, donate the proceeds to charity
1 year, 7 months ago

Adidas to sell off unsold Yeezy stock, donate the proceeds to charity

Live Mint  

Adidas has said it will sell the unsold stock of Yeezy shoes and donate the proceeds to charity, pondering over not to destroy the unsold merchandise from its partnership with Kanye West. The German sportswear giant announced it was halting production of Yeezy branded products with “immediate effect” at the end of October after West made anti-Semitic comments on social …

Adidas to sell Yeezy shoes and donate proceeds months after Kanye West split
1 year, 7 months ago

Adidas to sell Yeezy shoes and donate proceeds months after Kanye West split

Associated Press  

WASHINGTON — After months wrestling over the fate of milions of unsold Yeezy shoes, Adidas said Thursday it will sell a portion of its remaining inventory and donate the proceeds to charitable organizations. “Burning those shoes cannot be the solution,” Gulden said, adding that Adidas will try to sell part of the remaining Yeezy inventory and “donate money to the …

Adidas Says to Sell Part of Yeezy Gear for Charity
1 year, 7 months ago

Adidas Says to Sell Part of Yeezy Gear for Charity

News 18  

Adidas will sell at least part of its huge inventory of Kanye West’s Yeezy products and donate the proceeds, the German sportswear group’s boss said Thursday. The company’s CEO Bjorn Guden told shareholders at an annual general meeting that “burning the goods is not the solution”. “What we will try to do over time is to sell part of these …

Adidas to sell some Yeezy merchandise, donate proceeds
1 year, 7 months ago

Adidas to sell some Yeezy merchandise, donate proceeds

Al Jazeera  

Millions of Yeezy brand shoes worth $1.3bn are in storage as their sale was halted when Adidas cut ties with Kanye West. Adidas will sell some of the merchandise from its defunct Yeezy partnership with rapper Kanye West and donate part of the proceeds to international organisations, CEO Bjoern Gulden has said. “It’s a smart and responsible move,” said Ed …

Yeezy shoes still stuck in limbo after Adidas split with Ye
1 year, 7 months ago

Yeezy shoes still stuck in limbo after Adidas split with Ye

Associated Press  

FRANKFURT, Germany — It’s been nearly seven months since Adidas split with the rapper formerly known as Kanye West, and boxes of his popular Yeezy shoes are still piled up in warehouses. Adidas is “getting closer and closer to making a decision” on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said in …

Adidas Books Flat 1Q Sales as It Weighs Yeezy Options
1 year, 7 months ago

Adidas Books Flat 1Q Sales as It Weighs Yeezy Options

Live Mint  

Adidas is still looking at options for leftover Yeezy stock but continues to expects a major operating loss this year if it writes off the sneakers, it said Friday as it reported first-quarter sales that were a little better than expected. The effect of last year’s breakup with Yeezy designer Kanye West dragged the top line, but sales in the …

Yeezy shoes worth $1.3 billion still stuck in limbo after Adidas split with Ye
1 year, 7 months ago

Yeezy shoes worth $1.3 billion still stuck in limbo after Adidas split with Ye

LA Times  

Adidas saw operating earnings dwindle in the first three months of the year as the German sportswear company’s breakup with the rapper formerly known as Kanye West and his popular Yeezy shoe brand cost it $441 million in lost sales. The breakup will reduce earnings by 500 million euros this year if Adidas decides not to sell its remaining Yeezy …

Investors sue Adidas over Kanye West partnership, fallout
1 year, 7 months ago

Investors sue Adidas over Kanye West partnership, fallout

Associated Press  

WASHINGTON — Adidas is facing a class-action lawsuit from investors who allege the company knew about offensive remarks and harmful behavior from Ye, the rapper formerly known as Kanye West, years before ending its partnership with him. At the time, Adidas said the company “does not tolerate antisemitism and any other sort of hate speech” and called Ye’s remarks and …

Adidas wonders what to do with Yeezy shoes after Ye split
1 year, 9 months ago

Adidas wonders what to do with Yeezy shoes after Ye split

Associated Press  

FRANKFURT, Germany — Adidas is still wrestling with how to dispose of 1.2 billion euros worth of Yeezy shoes after its breakup with the rapper formerly known as Kanye West, forcing the German sportswear maker into a big loss at the end of last year and expectations of more pain ahead. CEO Bjorn Gulden said selling the popular line of …

Adidas warns of huge losses following fallout with Kanye West; details here
1 year, 10 months ago

Adidas warns of huge losses following fallout with Kanye West; details here

Firstpost  

Adidas broke its ties with rapper and fashion designer Kanye West in October 2022 following some anti-Semitic comments made by the celebrity. Adidas predicted this would lead to a loss of 500 million euros in operating profit and 1.2 billion euros in overall revenues. The inability to do so would result in a 700 million million euro operating loss this …

Kanye's Yeezy brand owes California $600,000 in unpaid tax debt
2 years ago

Kanye's Yeezy brand owes California $600,000 in unpaid tax debt

Daily Mail  

Kanye West owes California $600,000 in taxes and has received three notices about unpaid fees in two years, documents revealed. Disgraced rapper West, 45, was first received a tax lien notice in July 2021 and another one in September 2022 linked to his clothing brand Yeezy. Kanye West's Yeezy clothing brand owes California $600,000, according to documents Yeezy's headquarters is …

Parler says Kanye West deal off, as rapper says he ‘likes’ Hitler
2 years ago

Parler says Kanye West deal off, as rapper says he ‘likes’ Hitler

Al Jazeera  

Right-leaning app’s parent company says decision was mutual and came before rapper’s latest outburst. Parler, the right-leaning social media platform, will no longer be sold to Ye, its parent company said, hours after the rapper formerly known as Kanye West praised Adolf Hitler. Parlement Technologies said on Thursday the company and Ye had “mutually agreed” not to go ahead with …

Adidas investigates after ex-workers allege Ye misconduct
2 years ago

Adidas investigates after ex-workers allege Ye misconduct

Associated Press  

LONDON — Adidas says it is investigating allegations of inappropriate workplace conduct by the rapper formerly known as Kanye West that ex-employees made in an anonymous letter also accusing the German sportswear brand of looking the other way. Adidas, which made his Yeezy line, cut ties with Ye last month over his offensive and antisemitic remarks after facing pressure to …

Adidas investigates after ex-workers allege Ye misconduct
2 years ago

Adidas investigates after ex-workers allege Ye misconduct

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Adidas says it is investigating …

Adidas investigating claims Kanye West showed explicit images of Kim Kardashian to potential employees
2 years ago

Adidas investigating claims Kanye West showed explicit images of Kim Kardashian to potential employees

The Independent  

Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more Stay ahead of the curve with our weekly guide to the latest trends, fashion, relationships and more SIGN UP I would like to be emailed about …

Coming soon: Adidas Yeezy shoes without the Ye
2 years, 1 month ago

Coming soon: Adidas Yeezy shoes without the Ye

Live Mint  

Adidas AG said it plans to make up for most lost Yeezy earnings by selling sneakers of the same design stripped of the branding from rapper and former partner Ye. The German sportswear maker is working through options for selling the sneakers in 2023, and expects to save about €300 million in royalty payments and marketing fees by going it …

Adidas To Keep Selling Yeezy Designs After Dropping Kanye West
2 years, 1 month ago

Adidas To Keep Selling Yeezy Designs After Dropping Kanye West

Huff Post  

LOADING ERROR LOADING Adidas may have dropped Ye, but it hasn’t dropped his signature shoe design. Ye’s Yeezy sneakers were an immediate casualty, but now Adidas says it plans to reintroduce the design “as early as 2023” ― under a new brand. We intend to make use of these rights as early as 2023,” Adidas Chief Financial Officer Harm Ohlmeyer …

Adidas’ breakup with Ye drives lower earnings outlook
2 years, 1 month ago

Adidas’ breakup with Ye drives lower earnings outlook

Associated Press  

FRANKFURT, Germany — Adidas on Wednesday lowered its earnings forecast for the year to account for losses from ending its partnership with the rapper formerly known as Kanye West over his antisemitic remarks. The German shoe and sportswear maker cut its sales and profit outlook for the year as part of its third-quarter earnings statement, even as the company’s chief …

Kanye West fan sets up GoFundMe page to help him regain billionaire status, but others ask for money
2 years, 1 month ago

Kanye West fan sets up GoFundMe page to help him regain billionaire status, but others ask for money

Daily Mail  

A Kanye West fan has created a GoFundMe page in order to help the artist get back billionaire status, however, dozens of others have responded by creating crowdfunding pages of their own to make themselves billionaires instead of the controversial star. It all started when one GoFundMe page - titled 'Make Kanye West a billionaire again' - was put up …

Kanye West returns to social media posting a meme poking fun at his troubles, as they keep coming
2 years, 1 month ago

Kanye West returns to social media posting a meme poking fun at his troubles, as they keep coming

ABC  

When Kanye West was a producer wanting desperately to be heard as a rapper, his ambitions weren't taken very seriously. Now legally known as Ye, the recording artist and fashion designer reshared a meme on Thursday with photos of himself and the headline: "Ye has reportedly cut ties with Kanye West." But it was an unedited three-and-a-half-hour interview he did …

Kanye West addresses Adidas fallout in his return to Instagram: ‘I lost $2bn in one day’
2 years, 1 month ago

Kanye West addresses Adidas fallout in his return to Instagram: ‘I lost $2bn in one day’

The Independent  

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What did Kanye West say? Ye’s $2bn net worth doesn’t exist without Adidas - is it finally over for him?
2 years, 1 month ago

What did Kanye West say? Ye’s $2bn net worth doesn’t exist without Adidas - is it finally over for him?

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. It’s absolutely foolish to say I’m worth X, …

Kanye West isn't the only celebrity to lose a sponsor over controversial comments
2 years, 1 month ago

Kanye West isn't the only celebrity to lose a sponsor over controversial comments

Firstpost  

German sportswear giant Adidas ended their years-long association with Kanye West over his anti-Semitic outbursts. The rapper joins a long list of celebrities who have been dropped by sponsors Rapper and designer Kanye West, now legally known as Ye, lost his billionaire status after German sportwear giant Adidas terminated their contract for his string of anti-Semitic rhetoric. In a statement …

Kanye West loses billionaire status after Adidas ends Yeezy partnership, according to Forbes
2 years, 1 month ago

Kanye West loses billionaire status after Adidas ends Yeezy partnership, according to Forbes

The Independent  

Sign up to Roisin O’Connor’s free weekly newsletter Now Hear This for the inside track on all things music Get our Now Hear This email for free Get our Now Hear This email for free SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Kanye West’s net worth has …

No longer billionaire: In just two weeks, Kanye West loses it all, and his money
2 years, 1 month ago

No longer billionaire: In just two weeks, Kanye West loses it all, and his money

Hindustan Times  

Kanye West has lost his talent representation, deals with major fashion houses and relationships in the music industry in the past two weeks following anti-Blank and antisemitic comments. As Adidas ended its 250 million Euros partnership with Kanye West on Tuesday, the rapper lost his billionaire status as well, Guardian reported. Kanye West also received widespread criticism for T-shirts he …

Kanye West’s Adidas deal is over - but why did it take so long to cut ties?
2 years, 1 month ago

Kanye West’s Adidas deal is over - but why did it take so long to cut ties?

The Telegraph  

Yeezy-branded clothing typically sells out in minutes from Adidas and its sales were worth between €1.5bn and €2bn per year in revenues to the sportswear company, according to analyst estimates. In deleted posts on Instagram, West said “I have no chill, it’s going to cost you billions to keep me, it’s going to cost you billions to let me go …

Yeezy shoe collectors are ‘panic selling’ following Kanye West’s antisemitic rants
2 years, 1 month ago

Yeezy shoe collectors are ‘panic selling’ following Kanye West’s antisemitic rants

LA Times  

Prices for sneakers and clothes designed by Kanye West, such as these Adidas Yeezys, are falling on resale sites as collectors anticipate the rapper’s antisemitic remarks hurting demand. “People don’t want to be associated with Kanye right now.” That was evident at Cool Kicks, a shoe store and reseller located in one of Los Angeles’ prime sneaker marketplaces on Melrose …

Adidas ends partnership with rapper Ye over antisemitic remarks
2 years, 1 month ago

Adidas ends partnership with rapper Ye over antisemitic remarks

The Hindu  

Adidas has ended its partnership with the rapper formerly known as Kanye West over his offensive and antisemitic remarks, the latest company to cut ties with Ye and a decision that the German sportswear company said would hit its bottom line. Adidas said Tuesday that it conducted a “thorough review" and would immediately stop production of its line of Yeezy …

Adidas TERMINATES its partnership with Kanye West
2 years, 1 month ago

Adidas TERMINATES its partnership with Kanye West

Daily Mail  

Kanye West could lose his billionaire status after being dropped by Adidas amid growing backlash over his anti-Semitic rant - as GAP tear down his Yeezy products from their stores. Ye has courted controversy in recent months by publicly ending major corporate tie-ups, as well as for a series of outbursts on social media against other celebrities German sporting goods …

Adidas dumps Kanye West partnership after multiple anti-Semitic tirades: report
2 years, 1 month ago

Adidas dumps Kanye West partnership after multiple anti-Semitic tirades: report

Raw Story  

Sportswear manufacturer Adidas is reportedly ending its partnership with rapper Kanye West after he went on multiple anti-Semitic tirades in recent weeks. "The Adidas decision follows weeks of deliberations inside the company, which over the past decade has built the Yeezy line -- together with Ye -- into a brand that’s accounted for as much as 8% of Adidas’s total …

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