Adidas ‘reviewing relationship’ with Kanye West - CNBC

Oct. 06, 2022 1:14 PM ETadidas AG (ADDYY), ADDDFBy: Kevin P. Curran, SA News Editor9 Comments

adidas + KANYE WEST New Partnership Announcement

Jonathan Leibson

German footwear and apparel giant Adidas (OTCQX:ADDYY) is reassessing its business relationship with rapper Kanye West, according to CNBC.

“After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review,” a statement obtained by CNBC’s Sara Eisen stated. “We will continue to co-manage the current product during this period.”

The company statement added that the partnership must reflect “mutual respect and shared values,” suggesting some disconnects on those grounds as of late. US-listed shares of Adidas declined 1.66% on Thursday.

West previously moved to terminate his relationship with The Gap in mid-September. At the time, West stated that he was “done” with corporate partners.

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