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This adds to the rapper’s mounting struggles, exacerbated by a $1.6 billion hit in October 2022 when Adidas cut ties with him over his anti-Semitic remarks.
West, also known as Ye, accused Adidas of “design theft and oppression” in a fiery Instagram post, signaling a potential new chapter in their contentious relationship.
The new sneaker line has been a smash hit in its first six months on the market, drawing comparisons to the initial triumph of the Yeezy sneakers launched in collaboration with Kanye West.
More than a year after a high-profile split with Kanye West, Adidas is stepping up its search for new collaborators, signaling a shift in its strategy.
The success of these events comes amid challenges, including recent controversies causing a $1.6-billion dip in West’s fortune and delays in the album’s release.
Renowned rapper turned business mogul Kanye West stunned the industry by revealing a staggering single-day revenue of $19.3 million from the sales…
Yeezy Apparel, LLC, faces four active tax liens dating back three years.
In October 2022, West faced backlash on social media as Instagram, owned by Meta Platforms Inc., and Twitter, now X, removed anti-Semitic posts from his accounts.
Co-founded by Kanye West’s ex-wife, Kim Kardashian, the shapewear company is considering future pathways for growth and expansion.
West’s tale transcends music, marking his rise as a visionary in fashion and business, illustrating his profound impact across industries.
Adidas held over $1 billion worth of unsold Yeezy inventory in May.
Last year, Adidas ended its lucrative collaboration with West following a series of offensive and antisemitic comments.
Despite his setback in 2022, when Adidas severed ties with his Yeezy brand, West remains a top figure among the global Black elite.
West purchased the property, which consists of three bedrooms and four bathrooms, in 2003 for $1.75 million.
Adidas’ adept maneuvering following its separation from West has ensured its resilience, with significant gains in share value and market capitalization.
The recent downturn came shortly after the German sportswear giant announced the launch of the second sale of West’s Yeezy sneakers.