- Kim Kardashian Kept “Every Single” Yeezy Design In A “Time Capsule” Storage Unit As A “Tribute” To The Old Kanye West After He Said She Should “Burn” It All BuzzFeed News
- Kim Kardashian Regrets ‘Fast’ Pete Davidson Romance, Admits She Didn’t ‘Deal and Heal’ After Kanye West Split PEOPLE
- Kim Kardashian Has Regrets About Pete Davidson Relationship TMZ
- Inside Kim Kardashian’s EPIC storage closet: ‘Disgusting’ shoes bought to be like Victoria Beckham, a portrait Daily Mail
- Kim Kardashian Wants Kanye West in Kids’ Lives, Refuses to ‘Take That’ Away PEOPLE
- View Full Coverage on Google News
Tag Archives: Yeezy
Adidas shareholders launch class action lawsuit over Kanye West brand Yeezy – The Guardian
- Adidas shareholders launch class action lawsuit over Kanye West brand Yeezy The Guardian
- Adidas sued by investors over Kanye West deal Yahoo News
- Adidas sued by investors over Ye partnership USA TODAY
- ADDYY, ADDDF ALERT: ROSEN, A LEADING INVESTOR RIGHTS LAW FIRM, Encourages adidas AG Investors to Secure Counsel Before Important Deadline in Securities Class Action Commenced by the Firm – ADDYY, ADDDF PR Newswire
- Investors sue Adidas for ‘routinely’ ignoring Ye’s ‘extreme behavior’ The Hill
- View Full Coverage on Google News
Kanye West ‘marries’ Yeezy designer two months after Kim Kardashian divorce
A look at Kim and Kanye’s love story
2004: First meeting
Kim and Kanye first met on a music video shoot when the KUWTK star was working as Brandy’s stylist and Kanye was working on a song with the songstress.
At the time she was still married to Damon Thomas, who she wed in 2000, and Kanye was dating model Alexis Phifer.
Kanye was dating model Alexis Phifer
Speaking about their first meeting on the Keeping Up With The Kardashians 10 year anniversary special, Kim said: ‘I met him I think in 2002 or 2003. He was recording a song with Brandy, and I was her friend…
‘I vividly remember hanging out with him and then they did a video together, so I’d see him a few times…
‘He was asking his friends: ‘Who is this Kim Kardajan?’ He didn’t know what my name was’.
She later told Vogue Arabia in 2019: ‘This was before you released your first album and you were known as a music producer. I was really shy…
‘You thought I was Brandy’s assistant, which I wasn’t. Ever since you said that, it’s everywhere… like “Kim is Brandy’s assistant.” I was her friend and stylist. [laughs]…
‘I thought you were attractive, nice, very charming, really funny, powerful – I was in awe of you, but I was really shy, quiet, and a little nervous, to be honest.’
Later on that year, Kim split from Damon, who she wed when she was just 19 after eloping. She attributed domestic violence for the split – a claim he has always staunchly denied .
Kim wrote in the divorce papers: ‘Before we left out home, Damon hit me in the face and cut my lip open.. I fell into the bed frame and banged my knee hard. I was limping when we went skydiving.’
Sealing the deal: West’s crush on Kardashian only grew over the years as the rising star began getting photographed next to her boss-turned-friend Paris Hilton; Paris and Kim pictured in 2006
2006: Heads turned further
Kanye’s huge crush on Kim only grew over the years as the rising star began getting photographed next to her boss-turned-friend Paris Hilton.
In an interview with Ryan Seacrest in 2013, Kanye revealed that he truly fell for his future wife after he got a glimpse of a certain photo of her next to her pal Paris in Australia.
He said: ‘I just knew I wanted her to be my girl for a long time. ‘I remember I saw a picture of her and Paris Hilton, and I remember telling my boy, ‘Have you seen that girl Kim Kardijon?”
Despite his growing attraction to Kim, Kanye went on to propose to longtime girlfriend Alexis in August of 2006.
The proposal was slightly more low-key than his eventual proposal to Kim many years later.
Kanye popped the question to Alexis over a lobster and pasta dinner during a vacation to Capri.
Tradgedy struck the following year however, when Kanye’s beloved mother Donda passed away.
Following a number of procedures for liposuction, a tummy tuck, and a breast reduction, the following day she experienced a sore throat, pain and tightening in her chest, before collapsing. A friend who was with her called 911 and West was taken to the hospital, where she was pronounced dead in the emergency room.
After her death, Kanye seemed keen to honour her wishes of his marriage as he said of tying the knot to Alexis: ‘I’m just going to go and get married — I’m not going to make a big deal out of it…
‘I wouldn’t get married to prove anything to anyone. It’s for me, for stability in my life, and I’m so happy that I found someone that I really love, that challenges me, that keeps my life interesting, that’s just as crazy as I am.’
Working together: Kanye asks Kim to appear in his infamous hip-hop puppet show Alligator Boots, where she would be playing the part of Star Wars’ Princess Leia; Kim and Kanye pictured in 2008
2008: A split, Princess Leia and two new loves
In April, Kanye calls off his year-and-a-half engagement to Phifer, as confirmed by Phifer in a statement to People, in which she said: ‘It’s always sad when things like this end, and we remain friends’.
Shortly after, Kanye asked Kim to appear in his infamous hip-hop puppet show Alligator Boots, where she would be playing the part of Star Wars’ Princess Leia.
Although the show was rejected by Comedy Central, Kardashian still had fond feelings for the project as she shared behind the scenes pictures from the set of Alligator Boots to social media in 2018.
Kim wrote on her website: ‘We had met before this project (back in 2003), but I would say this is when we first really connected. These pics are SO funny!’
At the time of filming Alligator Boots, Kim was in a relationship with New Orleans Saints running back Reggie Bush, who she started dating in 2007.
Meanwhile, Kanye became involved with model Amber Rose in September of that year.
Future couple? In February, Kim and Kanye reunite with one another at the Y-3 show in New York City. Kim attended the show with boyfriend Reggie, while Kanye arrived solo and snagged a seat next to the couple and actress Milla Jovovich
2009: A fashionable meet and a mysterious mention
In February, Kim and Kanye reunite with one another at the Y-3 show in New York City. Kim attended the show with boyfriend Reggie, while Kanye arrived solo and snagged a seat next to the couple and actress Milla Jovovich.
In April, during his appearance on Keri Hilson’s hit track Knock You Down, appears to reference his looming crush on Kim and his jealousy over her relationship with Reggie.
He rapped: ‘You were always the cheerleader of my dreams / Seem to only date the head of football teams/…
‘And I was the class clown that always kept you laughing / We were never meant to be, baby we just happened’.
Kanye and Amber also part ways in July of that year
2010: The end of two love stories
In March, after three years of dating, Kim and Reggie split up for good. Reports at the time blamed the pressures of fame.
They had briefly split in August 2009 before reuniting, however he was unable to reconcile himself to Kim’s rising star.
An insider told e! online: ‘They do truly love each other and there’s no bad blood… They’re even open to the idea of reconciling down the road, but need to be apart right now.’
Kanye and Amber also part ways in July of that year.
Following their split, Amber blamed Kim for the split, saying: ‘Kim is one of the main reasons why me and Kanye are not together. She’s a homewrecker!’
In the years after his split from Amber, Kanye has openly criticised the model – most famously saying in a 2015 interview that he had to take ’30 showers’ after dating her and reportedly branding her a ‘prostitute’.
In December, as Kim filmed the music video for her single Jam (Turn It Up), Kanye was present on set. Famously, Kardashian’s mother Kris Jenner snapped at him for checking out her daughter’s famous derriere by bluntly saying, ‘Don’t be looking at her a**’.
The songwriter snapped back: ‘I’ve never seen it actually.’
In August 2011, Kim and Kris wed during a lavish, televised ceremony in Montecito, CA
2011: A Hump(hries) in the road
In May 2011, Kim got engaged to her NBA star boyfriend Kris Humphries, who she started dating in October of 2010.
In August that year, Kim and Kris wed during a lavish, televised ceremony in Montecito, CA. The eye-popping nuptials were attended by 450 guests and cost approximately $10million,
In an explosive twist in the tale, after just 72 days of marriage, Kim filed for divorce on October 31.
Kim later revealed that she had misgivings about the marriage but felt she must go forward due to surrounding pressures.
She said: ‘There was all this attention on the wedding, and I thought ‘maybe it was just the pressure of the show giving me this anxiety.’
‘The night before, my mom pulled me aside, off camera, and was like, ‘This isn’t it for you,”
‘I felt like, if I pulled out now, everyone’s going to think I just did it for the show. Then afterwards, people were saying, ‘You have to stay married for a year,’ but I physically couldn’t do it. When I made the decision [to divorce], everyone said it was made up for the show. Everyone really wanted to take me down.’
Kris said of the split: ”It’s never easy to go through the embarrassment of something like that — with your friends, with your family …. But when it plays out so publicly, in front of the world, it’s a whole other level. It was brutal’.
During his appearance on Kocktails with Khloe, Kanye revealed to Khloe that he tried to talk Kim out of moving forward with her marriage to Kris.
Shortly after, rumors began to swirl that Kim had taken her friendship with Kanye to the next level.
Early snap: Kim confirmed her romance with Kanye in June 2012 and they announced they were expecting their first child that December
2012: It’s TRUE and there’s a baby
They finally got together eight years after meeting.
In March, The rumored couple let it be known they were spending time with each other when Kim sat front row at Kanye’s runway show during Paris Fashion Week.
The following month, after months of rumors and rumblings, Kim and Kanye made their relationship official as they held hands in New York City.
In May they took things a step further and make their red carpet debut at the Cannes Film Festival during the premiere for the film Cruel Summer.
In December, the Stronger rapper joyously reveals that his is expecting his first child with Kim during a New Year’s Eve concert in Atlantic City.
The rapper said ‘stop the music’, then announced ‘make noise for my baby mama right here,’ with a wide smile. Kanye’s announcement prompted a flurry of excited tweets from the audience
Taking to her official website, Kim also confirmed the pregnancy, writing: ‘It’s true!! Kanye and I are expecting a baby…
‘We feel so blessed and lucky and wish that in addition to both of our families, his mom and my dad could be here to celebrate this special time with us. Looking forward to great new beginnings in 2013 and to starting a family.’
2013: A star is born… North West is here and a wedding on the way
Epic proposal: In October, Kanye made proposal history when he asked Kim for her hand in marriage with a sparkling 15-carat Lorraine Schwartz diamond ring
On June 15, Kim welcomed their daughter North West.
Weeks later, the KUWTK star showed off a picture of her and Kanye’s baby girl, while appearing on her mother Kris’ short lived talk show.
In October, Kanye made proposal history when he asked Kim for her hand in marriage with a sparkling 15-carat Lorraine Schwartz diamond ring.
The proposal was a total surprise and went down at the AT&T Park baseball park in San Francisco, which Kanye rented out for the occasion.
He had arranged for the words ‘PLEEESE MARRY MEEE!!!’ to flash up on the giant scoreboard at the ballpark.
Despite his bravado, Kanye admitted prior to the proposal he was nervous, saying: ‘I was talking to a cousin, I said, ‘What do you think she’s gonna say?’…
‘I’m not arrogant about love and feelings at all . . . I knew I wanted her to be my girl for a long time
In November, the couple then made headlines around the globe when shortly after their engagement, Kim famously appeared nude while straddling Kanye on a motorbike in his Bound 2 music video.
2014: The wedding
In May the following year, the couple tied the knot at the Renaissance fortress in Florence, Italy
In May the following year, the couple tied the knot at the Renaissance fortress in Florence, Italy. The lavish affair saw 200 people in attendance and Kim walked down the aisle in a stunning Maison Margiela bridal gown.
They were wed under the direction of Rich Wilkerson Jr, a pastor from North Miami. Speaking moments after the ceremony to E! News, Kim’s mum Kris said she was ‘beyond bursting with happiness for Kim, Kanye and baby North’.
‘Such a magical, romantic wedding!’ she added. ‘I feel blessed to have my new son and his family as part of ours.’ And Kanye seemed equally ebullient, with a source telling MailOnline he gave an eight-minute speech to the gathered guests.
‘I just wanna stop the music a second ‘cos my baby’s coming back with a new dress on. Here she is – Kim Kardashian West,’ he said, introducing his bride.
After the ceremony, the guests broke bread together sitting family style on a 70-metre-long marble banquet table – a gift from master craftsman Gualtiero Vannelli who used marble from the Tuscan quarry in Carrara, according to Us Weekly.
During the ceremony Italian tenor Andrea Bocelli serenaded Kim and Kanye with several of his songs, including Con te Partiro. Among the stars at the nuptials were Steve McQueen, Lala Anthony, Jaden Smith and Joe Francis.
2015: Saint West
In December, Kim and Kanye welcomed their second child, son Saint West, on December 5, 2015.
In May, in wake of her first wedding anniversary with Kanye, Kim confirmed to Glamour that she was expecting her second child with the Grammy winner.
‘North has taught me patience. There’s nothing I wouldn’t do for her. And nothing I wouldn’t do for my husband. She’s empowered us to want to be the best parents and the best spouses,’ said the star.
In December, Kim and Kanye welcomed their second child, son Saint West, on December 5, 2015.
Eager to share her newborn with her massive Instagram following, Kim shared a portrait of Saint to the platform.
Kim later discussed life with two young children, saying of North: ‘I don’t know if it’s because she’s the older sister. I don’t know what it is. I thought it was a phase. She does not like her brother and it’s so hard for me…
‘She would get so jealous when I would breastfeed and all that kind of stuff. And now, the phase isn’t going away.’
Famed and adored for her seeming diva ways, Kim continued to give insight into life with North, saying: ‘She thinks she’s outsmarting me.
‘Like, she’ll have a tea party and say, ‘No boys allowed.’ Dad can’t come too then — no boys. And she’ll slam the door on her brother’s face and he’ll just start crying.’
2016: Kim’s trauma and trouble in paradise
In 2016, Kim was left traumatised when burglars broke into her Paris apartment during Fashion Week, tied her up and stole $10million of jewellery in October 2016 (pictured before the raid)
In 2016, Kim was left traumatised when burglars broke into her Paris apartment during Fashion Week, tied her up and stole $10million of jewellery in October 2016.
In 2018, she finally learning to be ‘okay’ with the horrifying experience because she has ‘learned so much from it’.
The reality star was robbed by five armed men wearing ski masks and clothes with police markings in the ordeal.
At around 3am, the robbers entered the building after the concierge let them in.
Handcuffed and at gunpoint, the concierge led them to the starlet’s flat.
Kim reportedly ‘begged for her life’ and told the gunmen she had children at home when two of them entered her room and held the gun to her head.
The men stole a jewellery box worth €6 million ($6.7 million/ £5.24 million) and a ring worth €4 million ($4.5 million/ £3.5 million), prompting fears that the valuables were personal ones, and not just jewellery Kim was borrowing for fashion week.
Kim also lost two of her prized smart phones – ones that are likely to contain a great deal of personal information.
As she recovered from the trauma of the robbery, Kim faced further plight when later that year, the couple were faced with allegations of ‘friction’ due to Kanye’s online behaviour.
After Kanye went on a number of Twitter tangents, insiders said: ‘ What causes friction in the marriage, however, is Kanye’s compulsive tweeting.
‘Kim can’t stand it. She is all for self-promotion, but doesn’t approve of Twitter drama’.
Despite this, they denied they were having issues with Kim saying ‘there’s just nothing to really report on’.
2017: Baby number three
The couple hired a surrogate to carry their third child. It was first reported in July that Kim opted to go the surrogate route due to health complications during her first two pregnancies
The couple hired a surrogate to carry their third child. It was first reported in July that Kim opted to go the surrogate route due to health complications during her first two pregnancies.
Kim, who suffered with life threatening placenta accreta when carrying North and Saint, is said to have been referred ‘by an agency’ to find the right surrogate.
TMZ claimed the famous duo paid $45,000 for the surrogate to carry their third child, before revealing the lady in question is an African-American college graduate in her Twenties who has been married for five years with two children.
‘The entire family is over the moon. Kim had been looking for a surrogate for months until recently when she found the perfect candidate,’ a source told People.
The singer added: ‘They want everything to be perfect and for the baby to be extremely healthy.
‘They don’t want any complications and Kim is providing an ideal eating regimen and diet so everyone knows what the baby is consuming before it’s born.’
Prior to hiring their surrogate, Kim spoke to her sister Kourtney about the perks of surrogacy, saying: ”If you use a surrogate, nobody has to know the whole time…
‘You could have a baby for a year and nobody would even know.’
2018: Chicago is here
In January, their daughter Chicago was born
In January, their daughter Chicago was born.
Kim delightedly announced the news, confirming in a statement : ‘We’re so in love. Kanye and I are happy to announce the arrival of our healthy, beautiful baby girl’.
Three days after the birth, Kim revealed that the couple had decided to call their newborn daughter Chicago.
She shared a picture of the name, captioned with the date and time of the tot’s birth, plus her weight – 7lbs, 6oz.
She shared a post which explains how to pronounce the shortened version of Chicago’s name.
The informative messages said: ‘And to everyone who thinks it’s literally pronounced as CHI. No. It’s ‘Shy’.’
When grilled on the unusual name: ‘Everyone asks me where we came up with that,’ Kim said about her baby girl, whom she regularly calls ‘Chi.
‘Kanye is originally from Chicago, and the city is really connected to his memory of his mom. So, we went with Chicago.’
2019: The brood continues to grow and Sunday Service arrives
In May, they then welcomed another son Psalm West by a surrogate and later renewed their wedding vows
In May, they then welcomed another son Psalm West by a surrogate and later renewed their wedding vows.
She announced Psalm’s arrival on Mother’s Day with a picture of the baby asleep.
Kris later explained what the name meant, saying: ‘The inspiration was the Book of Psalms in the Bible. I think it’s just a wonderful way to celebrate how they feel. And he’s such a blessing, so it’s perfect. He’s just adorable.’
Kim had spoken earlier about moving on to having four children.
She said: ‘I think that, [for] anyone that has three, I do recommend going for the fourth. You’re already there. You’re so close. It feels so balanced. It feels like there’s a partner for everyone—no one’s left out. Everyone gets along now.’
The biblical name came around the same time as the launch of Kanye’s Sunday Service, in which he delivered his own religious service each Sunday at his home since the beginning of 2019.
The biblical name came around the same time as the launch of Kanye’s Sunday Service, in which he delivered his own religious service each Sunday at his home since the beginning of 2019
Kim discussed the services and detailed what they meant to Kanye, saying: ”Kanye started this, I think, just to heal himself. It was a really personal thing, and it was just friends and family…
‘He has had an amazing evolution of being born again and being saved by Christ…
‘For the most part, it’s just a musical ministry. Kanye doesn’t have his 501 [registered non-profit exempt from federal tax] yet to make it an official church, but it is for God and it is a Christian church. It started off healing for him and it’s become something that he really wants to share for everybody else.’
Kanye himself spoke about Sunday Service, telling David Letterman: ‘It was really an idea that we had to open up our hearts and make music that we felt was as pure and as positive as possible…
‘And just do it for an hour every Sunday. And just have somewhere where people can come together and just feel good with their families.’
On July 4, Kanye announced he was entering the 2020 presidential race and Kim – as well as Elon Musk – backed him
2020: Kanye’s troubles and Kim’s birthday
On July 4, Kanye announced he was entering the 2020 presidential race and Kim – as well as Elon Musk – backed him.
Later that month, on July 19 he held a campaign rally in South Carolina, wearing a bullet-proof jacket marked ‘security’ and with ‘2020’ shaved into his head.
In a rambling speech, he revealed he and Kim had considered aborting North and also claimed abolitionist Harriet Tubman ‘never actually freed the slaves’.
On July 22, he fired off a series of tweets claiming Kim was trying to have him locked up on medical grounds, that he had been ‘trying to get divorced’ since Kim allegedly met rapper Meek Mill at the Waldorf Hotel and called mother-in-law Kris Jenner ‘Kris Jong-Un’.
Kim subsequently released a statement saying Kanye was suffering a bi-polar episode at the time. It was later revealed he was holing up at his Wyoming ranch and Kim was seen in tears as she visited him,
In October, Kim and Kanye through the stunner an elaborate 40th birthday festivities, which included dinner at candlelight with her nearest and dearest on a private island.
After the event, Kim shed light on some of the precautions she had everyone take in order to safely celebrate her big day, which included a two week quarantine prior to the party.
She penned: ’40 and feeling so humbled and blessed. There is not a single day that I take for granted, especially during these times when we are all reminded of the things that truly matter,’ she wrote.
Virtual: Kim Kardashian revealed on Thursday that she received a hologram of her late father Robert from husband Kanye West , in celebration of her 40th birthday
‘For my birthday this year, I couldn’t think of a better way to spend it than with some of the people who have helped shaped me into the woman I am today. Before COVID, I don’t think any of us truly appreciated what a simple luxury it was to be able to travel and be together with family and friends in a safe environment…
‘After 2 weeks of multiple health screens and asking everyone to quarantine, I surprised my closest inner circle with a trip to a private island where we could pretend things were normal just for a brief moment in time. We danced, rode bikes, swam near whales, kayaked, watched a movie on the beach and so much more.
‘I realize that for most people, this is something that is so far out of reach right now, so in moments like these, I am humbly reminded of how privileged my life is. #thisis40.’
During the trip, she received a hologram of her late father Robert from husband Kanye.
Famed attorney Robert Kardashian, who tragically passed away from esophageal cancer in July of 2003 at the age of 59, was brought back to virtual life for the unconventional gift, which a number of fans have branded ‘creepy’.
Among the statements made by the virtual incarnation of the late Kardashian patriarch were that his famous daughter was ‘all grown up’, while he also hailed Kanye, 43, as ‘the most genius man in the whole world’.
The two-and-a-half minute video showed the late Kardashian wearing a beige suit jacket layered over a crisp white dress shirt as he seemingly spoke directly to Kim.
‘Happy Birthday Kimberly,’ greeted the hologram. ‘Look at you! You’re 40 and all grown up. You look beautiful just like when you were a little girl. ‘I watch over you and your sisters and brother and the kids everyday. Sometimes I drop hints that I’m around,’ noted hologram Robert, who made reference to something the Kardashians refer to as a ‘big peefee’.
2021: The end
The 41-year old reality star officially filed for divorce from the ‘Jesus Walks’ star in February 2021.
The split followed a rocky year for the couple where they were spotted having ‘crisis’ talks after Kanye accused Kim of trying to ‘lock me up’ and said he wanted to divorce her in a series of rambling Twitter posts while he was said to be in the grips of a bipolar episode.
Kanye also made a failed run for the White House in 2020 and during his first presidential campaign rally told attendees that Kim had considered aborting daughter North.
Kanye West made a Yeezy designer sit on the floor during an hours-long meeting and told her she didn’t ‘deserve to sit at the table,’ report says
-
Kanye West once made a designer sit on the floor for an hours-long meeting, per Rolling Stone.
-
An ex-staffer said the incident followed a disagreement between West and the designer.
-
The designer had been working on the Adidas-Yeezy line, according to the report.
Kanye West, also known as Ye, made a young female designer sit on the floor for an hours-long meeting, per Rolling Stone, which cited an ex-staffer who was in the room.
The publication spoke to more than a dozen former Adidas and Yeezy staffers. The ex-employees, who requested anonymity, told the publication that West created a toxic environment for people who worked under him on the Adidas-Yeezy partnership. The collaboration between the rapper and the sportswear giant lasted nine years.
The ex-workers said West would praise some workers while belittling others he had previously supported. One former employee described it as “playing mind games.”
The ex-staffer cited by the publication said the incident started with a disagreement between West and the young designer.
“You don’t deserve to sit at the table,” the former employee recalled West saying before making the designer sit on the floor for the rest of the meeting, which they said lasted hours.
Some of the former staffers also told the publication that West had shown them explicit images of his then-wife Kim Kardashian on multiple occasions.
West was dropped by Adidas on October 25 after a series of scandals and intense public criticism. In one incident, the rapper posted a series of antisemitic tweets. His account was locked following the posts but later reinstated.
A spokesperson for Adidas said: “Adidas does not tolerate hate speech and offensive behavior and therefore has terminated the Adidas Yeezy partnership. We have been and continue to be actively engaged in conversations with our employees about the events that lead to our decision to end the partnership. They have our full support and as we’re working through the details of the termination, we have been clear that we want to keep our employees’ talent and skills within the organization.
“Having said this, we will not discuss private conversations, details or events that lead to our decision to terminate the Adidas Yeezy partnership and decline to comment on any related speculation.”
Representatives for Yeezy did not reply to Insider’s request for comment. West could not be reached for comment directly.
Read the original article on Business Insider
Adidas will sell Yeezy designs under a different name following Kanye West controversy, CFO says
Adidas says it still plans to sell Yeezy designs — just with a different name.
The shoe and apparel brand announced its intentions to keep selling Yeezy products — which were created by Ye, formerly known as Kanye West — in a quarterly earnings call Wednesday.
“I can confirm that Adidas is the sole owner of all design rights related to existing product, as well as previous and new colorways under the partnership,” Adidas Chief Financial Officer Harm Ohlmeyer said during the call. “We intend to make use of these rights as early as 2023.”
“Going forward we will leverage the existing inventory with the exact plans being developed as we speak,” Ohlymeyer added.
The announcement comes after Adidas said last month that it would cut ties with the rapper after he made antisemitic remarks. In an Otcober 25 press release, the company said it would “end production of Yeezy branded products and stop all payments to Ye and his companies.”
The Germany-based company said it would be taking a loss as a result of terminating its relationship with Ye and Yeezy branded products.
Jeremy Moeller / Getty Images
“This is expected to have a short-term negative impact of up to 250 million euros on the company’s net income in 2022 given the high seasonality of the fourth quarter.”
However, in Wednesday’s quarterly earnings call, Ohlmeyer said it would make up for those losses by continuing to sell the products without the extra costs that come with a partnership.
“We will save over 300 million euros related to royalty payments and marketing fees,” he said. “This will help us to compensate the vast majority of the top and the bottom line impact in 2023.”
Ye designed the Yeezy line in a partnership with Adidas that began in 2015 with the Boost 750 shoe. Since his antisemitic comments, the singer has been dropped by several other brands he partnered with, including GAP and Balenciaga.
On Tuesday, Adidas announced it will be led by a new CEO starting next year. The current CEO, Kasper Rorsted, will be succeeded by Puma’s Bjørn Gulden, who is credited with turning around the company and increasing its sales.
TJ Maxx rejects Yeezy brand amid Kanye West fallout
New York
CNN Business
—
The list of companies cutting ties with artist and designer Ye following a series of antisemitic remarks continues to grow, with TJ Maxx boycotting the apparel line, the retailer announced Wednesday.
The decision follows similar moves by Gap and Foot Locker to pull Yeezy merchandise from their stores. Gap said it had also shut down YeezyGap.com. Adidas on Tuesday ended its partnership with Ye, who legally changed his name from Kanye West.
“At TJX we do not tolerate discrimination, harassment, or hate of any kind. We have instructed our buying teams not to purchase this merchandise for sale in any of our stores globally,” the retailer said in a statement emailed to CNNBusiness Wednesday.
TJX
(TJX) Companies operates popular off-price retail chains TJ Maxx, Home Goods and Marshalls.
These chains have become increasingly popular in the current inflationary environment because they buy unwanted or surplus inventory from suppliers and retailers, including luxury brands such as Gucci, Chanel and Prada, and sell them for less.
With more retail chains announcing that they will no longer sell Yeezy-branded products, it’s likely to create a glut of those items — with no place to sell them.
The fallout has even touched the rarefied world of auction houses and private sales.
Auction house Christie’s, which was handling the private sale of a rare Nike Air Yeezy 1 prototype that West wore to the 2008 Grammy Awards, said it was no longer proceeding with it.
The sneaker last sold for $1.8 million in a private sale at Sotheby’s in 2021, according to a report.
“We are not selling any of this material nor do we have any plans to,” a Christie’s spokesperson said Wednesday.
Yeezy, owned by Ye, aka Kanye West, cut ties to JPMorgan before ‘White Lives Matter,’ antisemitism controversy
‘Black Victim to Black Victor’ author Adam B. Coleman reacts to rapper Ye West’s claim that Hollywood ‘bullied’ him for being a Trump supporter on ‘Varney & Co.’
JPMorgan Chase is severing ties with Yeezy Brands, owned by Ye, the artist formerly known as Kanye West.
The bank sent Ye a letter on Sept. 20, weeks before he mired himself in controversy after wearing a “White Lives Matter” shirt at his Paris fashion show and writing antisemitic social media posts.
The letter was shared by Ye’s friend conservative activist Candace Owens on Twitter who commented, “We have reached extremely frightening times in this country.” She didn’t specify in her tweet when the letter was sent.
Ye told the New York Post of the news Wednesday, “Hey, if you call somebody out for bad business, that means you’re being antisemitic. I feel happy to have crossed the line of that idea so we can speak openly about things like getting canceled by a bank.”
KANYE WEST ERUPTS AFTER ADIDAS PUTS YEEZY PARTNERSHIP ‘UNDER REVIEW’ FOLLOWING ‘WHITE LIVES MATTER’ STATEMENT
FILE – In this Feb. 9, 2020, file photo, Kanye West arrives at the Vanity Fair Oscar Party in Beverly Hills, Calif. Rapper and fashion mogul Ye’s high-end clothing company Yeezy has agreed to pay $950,000 to settle a lawsuit over slow shipping to cus (Photo by Evan Agostini/Invision/AP, File) / AP Newsroom)
Ye said he planned to cut his corporate ties in an interview a week before the bank’s letter, telling Bloomberg, “It’s time for me to go it alone.”
He added, “It’s fine. I made the companies money. The companies made me money. We created ideas that will change apparel forever. Like the round jacket, the foam runner, the slides that have changed the shoe industry. Now it’s time for Ye to make the new industry. No more companies standing in between me and the audience.”
He had also criticized executives at JPMorgan before the interview on Instagram and said he couldn’t get the CEO on the phone.
KANYE WEST DROPS THE GAP, STARTS HIS OWN STORES
The JP Morgan Chase & Co. headquarters, The JP Morgan Chase Tower in Park Avenue, Midtown, Manhattan, New York. JPMorgan Chase & Co. is an American multinational banking and financial services holding company. It is the largest bank in th (Photo by Tim Clayton/Corbis via Getty Images / Getty Images)
“I feel like there’s a lot of controlling and handling to suppress my ability to affect the American economy and industry,” Ye told Bloomberg of JPMorgan.
Adidas said its partnership with the mogul is “under review” last week following the “White Lives Matter” controversy. (REUTERS/Andrew Kelly/File Photo/Steve Eichner/WWD/Penske Media via Getty Images)
The bank gave Yeezy 60 days from the letter to find a new institution for its money.
Yeezy has already ended its relationship with Gap and Adidas said its partnership with the mogul is “under review” following the “White Lives Matter” controversy.
CLICK HERE TO GET THE FOX NEWS APP
“After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review,” the company said on Oct. 6, three days after Ye’s fashion show. “We will continue to co-manage the current product during this period,” the company said in a statement.
No reason has been specified by JPMorgan’s severing of ties.
JP Morgan Chase bank cuts ties with Kanye West after anti-Semitic comments
JP Morgan Chase is the latest company to kick Kanye West to the curb amid his anti-Semitic comments.
Candace Owens revealed via Twitter on Wednesday that the bank sent him an official letter of termination “with no official reason given.”
“I was told there was no official reason given, but they sent this letter as well to confirm that he has until late November to find another place for the Yeezy empire to bank,” the controversial conservative figure tweeted along with a photo of the notice.
The letter read, “Dear Ye, We are sending this letter to confirm our recent discussion with [redacted name] that JP Morgan Chase Bank, N.A. (The Bank) has decided to end its banking relation with Yeezy LLC and its affiliated entities.”
However, the bank gave the “Heartless” rapper, 45, until November to find a new entity to hold his multibillion-dollar brand.
The news comes after numerous other brands decided to part ways with the rapper following his social media tirades, where he has attacked brands like Gap and Adidas.
Additionally, West was locked out of his social media accounts after making several comments against Jewish people.
Per Variety, in a since-deleted tweet, West “claimed that he couldn’t be anti-Semitic and said he had been “toyed with” by the Jewish people.”
While his shocking comments led to backlash from celebrities and people all around the world, podcaster Van Lathan claimed his comments didn’t come as a surprise as he had “already heard him say that stuff before.”
“I mean, I was taken aback because that type of anti-Semitic talk is disgusting. But as far as him, I knew that that was in him because when came to TMZ, he said that stuff and they took it out of the interview,” he alleged about Ye’s infamous 2018 interview with the outlet.
“When I saw [the new tweets], I was like, ‘Oh, I knew that this was eventually coming.’ As a matter of fact, I had anticipated it coming, like, way earlier than this,” he said, adding that West claimed he “loved Hitler and Nazis.”
Prior to his most recent comments, the rapper was under fire for wearing a “White Lives Matter” shirt to his Yeezy show and his daughter’s basketball game.
Sources close to the “Donda” rapper are very worried about him amid what they consider to be a psychiatric episode.
Insiders tell us Ye is barely sleeping and in the midst of the most serious mental break that the rapper has suffered.
JPMorgan Chase Ends Banking Relationship With Ye’s YEEZY
Following weeks of controversial news headlines and negative backlash, JPMorgan Chase has now officially ended its banking relationship with YEEZY. In an official statement sent to Ye and his team, the American multinational investment bank and financial services holding company noted a recent discussion with a redacted entity that led to it deciding to end its banking relationship with YEEZY, LLC and its affiliated entities.
The statement goes on to note that JPMorgan Chase will offer sufficient time to transition to another financial institution, maintaining accounts, including all products and services, until November 21. After the date, YEEZY’s open accounts will be closed, after the deduction of any permissible service charges and pending transactions.
It is currently unclear exactly why JPMorgan Chase has decided to end its banking relationship with YEEZY, but in recent weeks Ye has been critical of his relationship with the financial institution.
Stay tuned for more details as they become available.
NEWS: JPMorgan Chase has decided to end its banking relationship with Kanye West’s Yeezy, LLC pic.twitter.com/H9kxF0bM9k
— Exec Sum (@exec_sum) October 13, 2022
In case you missed it, VLONE recently announced its parting ways with A$AP Bari.
Kanye West erupts after Adidas puts Yeezy partnership ‘under review’ following ‘White Lives Matter’ statement
Check out what’s clicking on FoxBusiness.com
Kanye West’s partnership with sportswear manufacturer Adidas is “under review,” the company said Thursday and the star is not happy about the decision.
In a profanity-laced Instagram post, West scrutinized the sports retailer and claimed they “stole” his designs, according to TMZ.
“F—K ADIDAS,” West said in the since-deleted post to his nearly 18 million followers.
“I AM ADIDAS,” he added. “ADIDAS RAPED AND STOLE MY DESIGNS.”
Kanye West on stage during the 2016 MTV Video Music Awards in New York, U.S., August 28, 2016. (REUTERS/Lucas Jackson/File Photo / Reuters Photos)
KANYE WEST TALKS SEVERING PARTNERSHIPS WITH ADIDAS AND GAP
The German sportswear giant, which is the largest sports clothing manufacturer in Europe and the second largest in the world behind Nike, has maintained a business partnership with West to produce his Yeezy product line.
However, the company announced the review days after West wore a “White Lives Matter” shirt at a Paris fashion show and after he called the Black Lives Matter movement a “scam” on social media.
“After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review,” Adidas said in a statement, according to Reuters. “We will continue to co-manage the current product during this period.”
A split photo of the Adidas logo on a sign and Kanye West at the Supreme Courthouse in New York City. (REUTERS/Andrew Kelly/File Photo/Steve Eichner/WWD/Penske Media via Getty Images)
“Adidas has always been about creativity, innovation and supporting athletes and artists to achieve their vision,” the statement continued. “The Adidas Yeezy partnership is one of the most successful collaborations in our industry’s history.”
Adidas added: “All successful partnerships are rooted in mutual respect and shared values.”
West often takes to social media to voice his opinions and criticisms, including some in recent months that have been specifically addressed to Adidas and its CEO.
The two have been partnering together since 2013, Reuters reported.
Kanye West on September 26, 2022 in London, England. (Neil Mockford/GC Images / Getty Images)
West previously partnered with Nike, from 2007 to 2013, when he famously released his Red Octobers, according to the Wall Street Journal. The star first collaborated with Adidas in 2006, but the partnership failed to produce a shoe.
WHO STARTED ADIDAS?
In West’s current agreement with Adidas, the star lends the company the rights to design and manufacture Yeezy products. In return, West receives about 15% royalties, according to the Journal.
The current deal runs through 2026. As recently as last month, West threatened to walk away from the agreement and to take the Yeezy line solo.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Adidas’ review announcement comes less than a month after West announced he was terminating his partnership with clothing retail company Gap Inc.
West often posts and then deletes updates on Instagram. As of Friday morning, his account had merely three posts, including a post about each of his parents and a video of Fox News host Tucker Carlson.