{"id":1210775,"date":"2023-05-01T12:10:39","date_gmt":"2023-05-01T17:10:39","guid":{"rendered":"https:\/\/www.snkrsday.com\/?p=1210775"},"modified":"2023-05-01T12:18:44","modified_gmt":"2023-05-01T17:18:44","slug":"adidas-sued-by-investors-failed-yeezy-partnership","status":"publish","type":"post","link":"https:\/\/www.snkrsday.com\/adidas-sued-by-investors-failed-yeezy-partnership\/","title":{"rendered":"adidas Sued By Investors Over Yeezy Partnership"},"content":{"rendered":"\n

adidas<\/a> has been named in a lawsuit by investors over the adidas Yeezy<\/a> partnership as they claim the brand “failed to limit financial losses and take precautionary measures to minimize their exposure,” according to BBC<\/a><\/em>. <\/p>\n\n\n\n

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. <\/p>\n\n\n\n

Per the lawsuit, investors allege that Ye’s behavior was discussed by adidas’ former chief executive Kasper Rorsted and others circa 2018.<\/p>\n\n\n\n

adidas refuted the allegations: “We outright reject these unfounded claims.”<\/p>\n\n\n\n

The Three Stripes ended its relationship with Ye and the adidas Yeezy line in October 2022<\/a> following anti-semitic remarks and other statements and antics. Since then, the brand has been transparent about adidas\u2019 stale Yeezy inventory<\/a> 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<\/a>. <\/p>\n\n\n\n

However, newly appointed CEO, Bj\u00f8rn Gulden<\/a>, addressed the complexity of all the unsold products<\/a>.<\/p>\n\n\n\n

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<\/a>, which is unaffiliated with the brand & Ye but is heavily dedicated to keeping up with Yeezy products. <\/p>\n\n\n\n

Keep it locked on Snkrs Day<\/a> on Instagram as the story develops. <\/p>\n\n\n

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A post shared by Snkrs Day (@snkrsday)<\/a><\/p>\n<\/div>\n<\/blockquote>\n