Adidas puts partnership with Kanye West under review
Reuters
Published Oct 06, 2022 02:24PM ET
Updated Oct 06, 2022 02:46PM ET
FRANKFURT (Reuters) - German sporting goods maker Adidas (OTC:ADDYY) on Thursday said it has put under review its business partnership with rapper and fashion designer Kanye West.
"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," the company said.
CNBC, which first reported the news, said West had been publicly critical of Adidas and its CEO and told the broadcaster that the German group was copying his ideas. Adidas has been partnering with West since 2013, CNBC said.
"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," Adidas said.
"We also recognize that all successful partnerships are rooted in mutual respect and shared values."
News about Adidas putting the partnership under review comes less than a month after West's lawyers sent a letter to Gap Inc (NYSE:GPS) notifying the apparel chain he was terminating his partnership with the company.
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Written By: Reuters
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