dispute between adidas And Kanye West Now there is no end in sight to it. Despite the rift between the two sides is officially dated last OctoberImportant elements continue to emerge regarding the reasons that may have prompted the sportswear giant to break off the partnership with the American rapper.
as reported TimeThe failure of the billion-dollar deal would be accompanied by a legal battle between Adidas and West, this time accused of stealing $75 million (about 67 million euros at current exchange rates) from a 100 million fund allocated for the marketing of Yeezy, the brand he heads. Recently added Controversial Manager Dove Charney,
Details of the dispute were kept secret until accidentally revealed during a hearing in May, when lawyers for both sides, convinced that no press was present, argued it in court. In fact, in the prosecution’s legal documents, we read that Yeh (West’s stage name) may have mismanaged all resources intended for marketing through the Yeezy label, as well as using them for purposes not authorized by the German company.
In particular, Adidas claims that last year it paid $ 50 million to Yeezy’s bank account in Wyoming, where the rapper lived, and $ 25 million to Yeezy’s account in New York, which will later be allocated to marketing funds. However, according to the indictment, the amount never reached its ‘destination’, being immediately transferred to a larger account dedicated to other brand-related activities, clearly in violation of a pre-established agreement. Reason which has now prompted the Herzogenaurach company to seek a detailed account of the handling of the funds, compensation equal to the amount paid, an amount less than West could demonstrate that he actually used it for legitimate marketing purposes, and an additional amount for unspecified damages.
Also, Adidas is currently engaged in other ‘legal fronts’ in the Kanye West case: since the beginning of the breakup, the American artist has accused Adidas of copying Yeezy-branded footwear designs to model and sell his shoes, while this news dates back to last May. Some investors have sued the company Because they knew the risks involved in partnering with West long before the recent scandals.