Yeezy Apparel, a company managed and reportedly owned by Kanye West, owes over $600,000 in unpaid tax debt.Continue reading
During adidas third-quarter earnings call the popular sportswear giant confirmed that it has every intention of selling YEEZY-designed products, without the YEEZY branding.Continue reading
Kanye West is acquiring Parler, an alternative social media platform which prides itself as a “free speech platform”.Continue reading
adidas has announced that they’re placing Kanye West’s YEEZY line “under review.” The company says that “all [its] successful partnerships are rooted in mutual respect and shared values” and that “after repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review.” The full statement can be seen below.
“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.”
Ye revealed his displeasure with adidas back in June, accusing the company of stealing his designs and “not getting his approval” for YEEZY Day. In September, Ye said that adidas had offered him a $1 billion buyout, and mentioned in an interview with Bloomberg that he’d be leaving adidas when his contract with the company expires in 2026.
Sales from the YEEZY licensing deal reached $1.7 billion in 2021, which was 7 percent of adidas’ annual revenue. YEEZY footwear will continue to release as scheduled until further notice.