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The BBC writes that Adidas shareholders have filed a class-action lawsuit against the sports brand, which suffered heavy losses after the termination of the contract with Kanye West. Last year, the rapper was at the center of a big scandal because of his harsh statements. Because of this, many large companies, including Adidas, refused to cooperate with Kim Kadashian’s ex-husband.
Caring about reputation cost the brand serious financial losses. Losses could be up to $1.3 billion. Investors suing allege that the company knew about Kanye West’s problematic behavior long before the end of cooperation with him. That is why she had to foresee the consequences and take action. Adidas management does not admit its guilt.
We strongly reject these unfounded allegations,” the brand said, adding that the company will take all necessary measures to protect.
West himself, who designed Adidas’ hugely successful Yeezy clothing line, is not a party to the lawsuit.
Earlier it became known that no charges would be brought against Ye after his conflict with the paparazzi. It happened in January of this year. Then Kanye grabbed the phone of the fan who was filming him from the car and threw it on the roadway. According to a statement from the Ventura County District Attorney’s office, Kanye’s drastic actions only damaged the protective case in which the girl’s smartphone was located.
Source: Hellomagazine
Benjamin Smith is a fashion journalist and author at Gossipify, known for his coverage of the latest fashion trends and industry insights. He writes about clothing, shoes, accessories, and runway shows, providing in-depth analysis and unique perspectives. He’s respected for his ability to spot emerging designers and trends, and for providing practical fashion advice to readers.
