German sportswear giant Adidas has reached an out-of-court settlement with American rapper Kanye West, ending their lengthy legal dispute.
The conflict began in 2022 when Adidas terminated its lucrative partnership with West, known as Yeezy, following widespread condemnation of his antisemitic remarks. The American Jewish Committee had pressured Adidas to sever ties.
Adidas CEO Bjorn Gulden announced the settlement on Tuesday, stating, “The drama with West belongs to the past. Negotiations and settlements have been done.” No financial details were disclosed.
As a result of the split, Adidas was left with approximately €1.2 billion (£840 million) worth of unsold Yeezy stock. The company now plans to clear remaining inventory by the end of 2024.
This resolution marks the end of a contentious chapter between Adidas and West, who had previously collaborated on highly successful Yeezy shoe and clothing lines.