Adidas CEO Bjørn Gulden announced an amicable end to the legal matter with Kanye West two years after the artist’s anti-Semitic remarks.
He stated that all outstanding issues had been resolved and there were no financial transactions involved.
According to CNBC, the businessman said, “There were no more open issues and no… money, and we both moved on.”
“There was tension on many issues, and… when you put the demands on the right and you put the demands on the left, both sides said we don’t need to argue anymore and backed off all claims.”
“No one owes anyone anything anymore. So whatever happened is history.”
Adidas was then left with nearly $1.3 billion in unsold Yeezy goods, accounting for about half of the company’s profits.
Gulden later pledged to donate remaining proceeds from Yeezy sales to support groups affected by West’s controversial comments.
There has been some legal back and forth between the two sides, most of which were resolved through confidential arbitration proceedings.
The partnership between West and Adidas was plagued with misbehavior just before its 2022 end.
In October 2023, a report revealed that during their first meeting in 2013, West allegedly sketched a swastika, signaling the controversial beginning of their collaboration.
When faced with challenges to the group’s ideas, some former employees have alleged that West’s frustration prompted him to take drastic action. According to the story, he once confiscated a shoe sketch and boldly marked the toe with an obnoxious image to express his strong opposition to the designs.
There were also allegations of offensive conduct, in which West was said to have made controversial statements about Adolf Hitler, referring to him as a “master marketer” and expressing admiration for his marketing techniques. his propaganda skills.
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