Adidas has reached an out-of-court settlement with rapper Ye to end all legal proceedings, the sportswear brand said Tuesday, adding that no money changed hands in the settlement.
German company Adidas was embroiled in several lawsuits for the last two years. ended a partnership With the rapper formerly known as Kanye West anti-semitic comments He made it.
“There are no more open issues, and no more money going out, and we both move forward,” CEO Björn Gulden told reporters on a conference call, declining to provide further details about the deal.
Gulden said, “There were tensions over a number of issues, and…when you had claims on the right and claims on the left, both sides said we don’t need to fight anymore and withdrew all the claims.”
sale of parts of remaining yeezy inventory The quarter generated revenue of about 200 million euros ($215 million) — significantly less than Yeezy sales of about 350 million euros in the same quarter last year.
Separately, Adidas saw strong growth in Greater China in the third quarter, while sales in North America, excluding Yeezy shoes, rose over the year due to improved brand image, the company said Tuesday.
