There was an out-of-court agreement with West and his lawyers, said Adidas boss Björn Gulden on Tuesday when presenting the figures for the third quarter. This means that all complaints are off the table, says Gulden. There were no payments in one direction or the other.
After the rapper’s racist and sexist comments, Adidas terminated the collaboration at the end of 2022 and began selling the remainder of the previously highly successful products in 2023. Adidas and West have since been involved in a number of legal battles. The turbulence surrounding West, among other factors, had a significant impact on Adidas’ past financial year.
Back on track
In the current year, however, the sporting goods manufacturer has gotten back on track. After a strong third quarter, the group was optimistic about further developments. Gulden considers the business to be well balanced with double-digit growth rates in both the lifestyle and sports categories. “The strong underlying growth in China and the earlier-than-expected return to positive results for the Adidas brand in North America in the last two quarters make us confident about the medium-term future,” he said.
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Image: APA/Jean Baptiste Lacroix
Source: Nachrichten
