Kanye West news and archive

Adidas CEO defends former collaborator Kanye West

A remarkable statement has been made by Adidas CEO Bjorn Gulden, who indicated in the podcast 'In Good Company' that he did not think entrepreneur, designer and artist Ye (formerly known as Kanye West) meant the anti-Semitic statements he made. Among other things, these statements by Ye caused Adidas' collaboration with the artist for the Yeezy...

Fashion

Demand for Yeezy has yet to wane

Demand for Yeezy sneakers has not faded, despite almost a year of controversy surrounding Adidas’ now broken partnership with Ye, formerly known as Kanye West. The first drop, which was sold between April and June, secured the sportswear giant 400 million euros, and has also seen the value of Yeezy's on the secondary market continue to soar....

Business

Adidas says Kanye West misappropriated 75 million dollars of marketing funds

In April of this year, shareholders of Adidas turned to the courts, lodging a lawsuit against the renowned sportswear giant, citing its failure to implement precautionary measures concerning the well-publiciced problematic behaviour of Kanye West, also known as Ye. The shoe is now on the other foot, with Mr. West finding himself at the center of...

BusinessFeatured

Adidas tackles inventory woes with strategic Yeezy shoe sale

Adidas has at last addressed the conspicuous overhang of 1.2 billion euros worth of Yeezy sneakers that has been weighing down its inventory. In a move aimed at rectifying the situation, the German sportswear giant confirmed its plan to sell the unsold Yeezy shoes while allocating a portion of the proceeds to charitable causes. Adidas CEO, Björn...

Business

Kanye West and Yeezy ordered to pay 300,000 dollars to snubbed creator

As another day passes, another Kanye West saga has unravelled. The rapper-turned-designer and his brand Yeezy have now been ordered to pay over 300,000 dollars to New York-based creative Katelyn Mooney after failing to attend a court session. A default judgement was filed in Mooney’s favour at Manhattan Supreme Court when no legal representative...

BusinessFeatured

Adidas hit with lawsuit from shareholders over Kanye West partnership

In another blow for Adidas, the sportswear giant is now facing a class action lawsuit from investors claiming that it knew about Kanye West’s controversial conduct prior to cutting off its partnership with the rapper. In the lawsuit, which was filed with a federal court in Oregon, shareholders of the brand alleged it was aware of West’s...

BusinessFeatured

Will Adidas destroy, donate or sell off its Yeezy sneaker stock?

2022 was not a good year for Adidas. With slowing sales in China, a sanctioned Russia and a Yeezy crisis, 2023 has already been christened with a probable operating loss of 700 million euros. This is largely due to the mountain of Yeezy stock Adidas has to reconcile. The options are limited. Selling the stock would lessen the losses but no doubt...

BusinessFeatured

Adidas and Ye reportedly reach 500 million dollar deal to sell remaining Yeezy stock

Sportswear giant Adidas is said to have reached a new agreement with rapper-turned-designer Ye, formerly Kanye West, following the termination of its partnership with Yeezy. The reports come in relation to rumours currently circulating online and through social media, where it has been noted that the German brand has struck up a new deal with Ye...

Business |OPINION Featured

Adidas has a billion dollar Yeezy problem

When Adidas quietly closed the Yeezy Supply website last week, it was a marker of an inventory problem that is far from resolved. With thousands of unsold pairs in the German sportswear giant’s warehouses, Adidas will take its first loss in three decades if its Yeezy sneakers are not sold. Adidas shares fell 12 percent on Friday, with the...

Fashion Featured

10 of the most viral fashion moments from 2022

Conversations regularly erupted on social media and the online world as whole this year, as a wide range of news from within fashion became ‘viral’ – a term used to describe topics that circulate rapidly on the internet. FashionUnited has compiled a list of occasions that sparked the biggest online discussions of 2022, influencing movements,...

Fashion Featured

Adidas to investigate Kanye West misconduct to employees

When Adidas severed its contract and ties with Yeezy in October, the anti-semitic views expressed by Kanye West, now known as Ye, was not the first time the musician and entrepreneur’s behaviour caused offence. An open letter written by several employees addressed to Adidas’ CEO and management titled, “The Truth About Yeezy: A Call to Action for...

People

Kanye estimates two billion dollar losses following anti-Semitic rants

Kanye West lost two billion dollars in a single day, he said Thursday, as business partners rushed to dump the rapper in the wake of a series of anti-Semitic outbursts. The music and fashion mogul has seen lucrative commercial tie-ups shelved as companies including Adidas and Gap took fright at comments dubbed hate speech by activists. "I lost...