Adidas Holds Kanye West Tie Under Review: Report

  • Adidas AG ADDYY is reviewing its relationship with rapper Kanye West following recent issues when the rapper publicly accused Adidas CEO of not providing him control over Yeezy.
  • Adidas announced its partnership with West in 2013. West also agreed in 2016 to manufacture and distribute items from his Yeezy clothing line.
  • RelatedKanye West's Feud With Adidas And Gap Heats Up: What's On The Line For Him And The Companies
  • In September, West terminated Yeezy's partnership with Gap Inc GPS.
  • His sneaker and apparel business with Adidas AG and Gap was recently valued at between $3.2 billion and $4.7 billion by UBS, CNBC reported.
  • Also ReadKanye West Confirms Termination Of Yeezy's Partnership With Gap: 'A King Can't Live In Someone Else's Castle'
  • "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 report cited the company commenting on the issue.
  • Price Action: ADDYY shares closed lower by 2.97% at $58.86 on Thursday.
  • Photo Via Company
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