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adidas has been named in a lawsuit by investors over the adidas Yeezy partnership as they claim the brand “failed to limit financial losses and take precautionary measures to minimize their exposure,” according to BBC.
In the lawsuit, investors state that the brand knew about Ye’s, formerly known as Kanye West, problematic behaviors and the effect it could have on the business.
Per the lawsuit, investors allege that Ye’s behavior was discussed by adidas’ former chief executive Kasper Rorsted and others circa 2018.
adidas refuted the allegations: “We outright reject these unfounded claims.”
The Three Stripes ended its relationship with Ye and the adidas Yeezy line in October 2022 following anti-semitic remarks and other statements and antics. Since then, the brand has been transparent about adidas’ stale Yeezy inventory which is valued at $1.29 billion USD in revenue. In November, it was reported that the brand would sell its Yeezy inventory in 2023.
However, newly appointed CEO, Bjørn Gulden, addressed the complexity of all the unsold products.
As of now, there is no indication of adidas Yeezy products entering the market though adidas Yeezy samples have surfaced, and even the relaunch of Yeezy Mafia, which is unaffiliated with the brand & Ye but is heavily dedicated to keeping up with Yeezy products.
Keep it locked on Snkrs Day on Instagram as the story develops.
