Adidas issued a statement saying it had placed its partnership with Kanye West supporting the Yeezy range “under review” after West had recently been publicly critical of the company and its CEO.
Adidas said in the statement:
“Adidas has always been about creativity, innovation and supporting athletes and artists to achieve their vision. The Adidas Yeezy partnership is one of the most successful collaborations in our industry’s history. We are proud of our team that has worked tirelessly throughout our collaboration with Ye and the iconic products that were born from it. We also recognize that all successful partnerships are rooted in mutual respect and shared values. After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review. We will continue to co-manage the current product during this period.”
Adidas partnered with West in developing the Yeezy label for ten years. In 2020, the partnership brought in nearly $1.7 billion in revenue, according to Bloomberg. The partnership expires in 2026.
West recently said its CEO, Kasper Rorsted and Adidas had not given him enough control over the Yezzy line and told CNBC “they were copying my ideas.”
In mid-September, Kanye West and Gap, Inc. ended their collaboration after West raised similar complaints on social media. He has announced intentions to open his owned stores.
Photo courtesy Reuters
