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Adidas Sees Sales Boost Despite Ending Kanye West Partnership
ADIDAS has reached an out-of-court settlement with YE (KANYE WEST.) Both sides agreed to drop all legal claims tied to ADIDAS’ termination of their partnership in OCTOBER 2022.
The settlement ends a legal dispute that started after ADIDAS ended its nearly decade-long relationship with WEST following his public antisemitic remarks. No financial exchange was involved in the agreement, and both parties will move forward without further litigation.
Now that the partnership is over, the company is left with €1.2 billion ($1.3 billion) worth of unsold WEST’s YEEZY products. Recently, ADIDAS reported a 10% increase in third-quarter sales, reaching €6.4 billion. This growth was driven by strong sales in EUROPE, LATIN AMERICA, JAPAN, and SOUTH KOREA, which helped balance a 7% sales drop in NORTH AMERICA.