Ye and Adidas officially reach settlement
By Gio Alvarez
As Ye approaches the final stages of his upcoming solo album titled BULLY, he feels a weight lifted off his shoulders. Reports from Italy confirm that Ye and Adidas have officially reached a settlement, resolving all outstanding legal claims related to the company's decision to end its partnership with the artist and his Yeezy brand.
Ye and Adidas have finally reached a legal settlement, bringing their rocky separation to a close
The deal was announced by Adidas CEO Bjorn Gulden during a quarterly earnings call and was first reported by Bloomberg. It comes approximately two years after Adidas revealed its decision to terminate its long-standing partnership with Ye, following his antisemitic remarks and other erratic behavior.
"Both parties said we don’t need to fight anymore and withdrew all the claims... No one owes anybody anything anymore. So whatever was is history."
- Bjorn Gulden
The split between the artist and adidas left the company with $1.3 billion worth of unsold Yeezy merchandise and no straightforward way to liquidate the inventory, resulting in a loss of $655 million in sales during the last three months of 2022. Earlier this year, adidas opted to begin a clearance sale on all Yeezy items in their inventory to empty their stockrooms and recover some profit from the footwear. Prices were slashed by half on their online store and ultimately sent to outlets, providing sneaker enthusiasts with an opportunity to purchase sought-after designs at a significantly reduced price.
With recent reports that Ye has relocated to Japan to work on his next studio album and escape the American paparazzi, fans eagerly anticipating new music from the multiple Grammy winner may find this encouraging. Efforts appear to be underway to steer this upcoming album toward the classic sound that fans have been hoping for since the release of 2021's, Donda. By dedicating more time to music production and less to settling disputes with Adidas and other clothing ventures, the artist formerly known as Kanye West may foster a healthier mindset.
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