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Kanye West Says Adidas is Suing Him for $250M While Dropping Fake Shoes in His Name

February 27, 2024 by newhiphopnews

Kanye West is not here for the sale of the new Yeezys. After the brand announced a new stock drop at the end of the month, Kanye hit the net with a message, stating he was sued.

“Not only are they putting out fake colorways that are not approved, they are suing me for $250 million,” Ye said. “And they also not paying me for these shoes they are putting out that has my name on it.

“They are using contract clauses and 50 years of business experience to rape an artist – one of y’all favorite artists – right in front of y’all in broad daylight.”

Kanye says Adidas is suing him for 250M while selling Yeezy’s with his name on it without paying him. Other celebrities need to speak out and bring attention to this because it could be them too one day pic.twitter.com/wxBBbiSHHA

— Ye Streams (@kanyestreams1) February 26, 2024

According to Complex, Adidas announced the remaining release of its Yeezy stock on Feb. 29. The “Steel Grey” Yeezy Boost 350 V2 will be available for $230 by using the Confirmed app, Adidas app, or Adidas.com.

adidas will release the remaining YEEZY inventory, which features products from 2022, in the course of the year.

The range available will include some of the most popular designs beginning with the YEEZY BOOST 350 V2 in STEEL GREY. pic.twitter.com/zMRVRT1aYx

— adidas alerts (@adidasalerts) February 26, 2024

Adidas also teased additional sneakers, showing an image with silhouettes of the Yeezy Foam Runner, the Yeezy 500, the Yeezy Boost 350 V2, and the Yeezy Slides.

Meanwhile, Kanye West delivered a message to fans to not buy them. “Anybody who loves Ye would not buy these fake Yeezys [.] I never made these color ways [.] I’m not getting paid off of them and adidas is suing me.”

You can see his full statement below.

KANYE WEST Responds After ADIDAS Continue To Sell Off The Rest Of Their YEEZY Sneakers pic.twitter.com/Ut1NmmmUii

— HypeNeverDies (@HypeNeverDies) February 26, 2024

In Sept. 2023, Ye received words of support from Adidas CEO Bjørn Gulden. In an interview, Gulden stated he doesn’t believe Kanye West is a bad person.

“And then as creative people he did some statements which wasn’t that good,” Gulden said. “And that caused Adi to break the contract and withdraw the product. Very unfortunate because I don’t think he meant what he said and I don’t think he’s a bad person it just came across that way.

“That meant we lost that business. One of the most successful collabs in history — very said. But again, when you work with third parties that can happen. It’s part of the game.”

New Adidas CEO Bjørn Gulden about Ye :

“Kanye West is one of the most creative people in the world. I don’t think he’s a bad person, it just came across that way.” pic.twitter.com/8k1JvHkyJl

— Donda Times (@dondatimes) September 19, 2023

Adidas reports a revenue of $437 million in the first release of leftover Yeezy sneakers from their nixed deal with Ye, formerly known as Kanye West. The first run of shoes hit online in June, selling out. The second run began to sell on Wednesday.

The sale of the sneakers was the efforts to empty their inventory responsibly. After the first launch, CEO Bjørn Gulden said, “We will continue to carefully sell off more of the existing Yeezy inventory,”

Adidas has also announced the donation of over 10 million euros to groups like the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change, and Robert Kraft’s Foundation to Combat Antisemitism.

According to Billboard, 20% to 25% of the stock was unloaded in the first sale.

The post Kanye West Says Adidas is Suing Him for $250M While Dropping Fake Shoes in His Name first appeared on The Source.

The post Kanye West Says Adidas is Suing Him for $250M While Dropping Fake Shoes in His Name appeared first on The Source.

Adidas Announces New Yeezy Stock, Kanye West Calls Them ‘Fake’

February 27, 2024 by newhiphopnews

More Yeezy sneakers are on the way from Adidas. According to Complex, Adidas announced the remaining release of its Yeezy stock on Feb. 29.

Sneaker collectors can get the “Steel Grey” Yeezy Boost 350 V2 on the day above for $230 by using the Confirmed app, Adidas app, or Adidas.com.

adidas will release the remaining YEEZY inventory, which features products from 2022, in the course of the year.

The range available will include some of the most popular designs beginning with the YEEZY BOOST 350 V2 in STEEL GREY. pic.twitter.com/zMRVRT1aYx

— adidas alerts (@adidasalerts) February 26, 2024

Adidas also teased additional sneakers, showing an image with silhouettes of the Yeezy Foam Runner, the Yeezy 500, the Yeezy Boost 350 V2, and the Yeezy Slides.

You can see his full statement below.

KANYE WEST Responds After ADIDAS Continue To Sell Off The Rest Of Their YEEZY Sneakers pic.twitter.com/Ut1NmmmUii

— HypeNeverDies (@HypeNeverDies) February 26, 2024

In Sept. 2023, Ye received words of support from Adidas CEO Bjørn Gulden. In an interview, Gulden stated he doesn’t believe Kanye West is a bad person.

“That meant we lost that business. One of the most successful collabs in history — very said. But again, when you work with third parties that can happen. It’s part of the game.”

New Adidas CEO Bjørn Gulden about Ye :

“Kanye West is one of the most creative people in the world. I don’t think he’s a bad person, it just came across that way.” pic.twitter.com/8k1JvHkyJl

— Donda Times (@dondatimes) September 19, 2023

According to Billboard, 20% to 25% of the stock was unloaded in the first sale.

The post Adidas Announces New Yeezy Stock, Kanye West Calls Them ‘Fake’ first appeared on The Source.

The post Adidas Announces New Yeezy Stock, Kanye West Calls Them ‘Fake’ appeared first on The Source.

Is Adidas Still Selling Kanye West’s Yeezy Sneakers?

February 26, 2024 by newhiphopnews

Kanye West Adidas Yeezy 2016 — Getty Image

Kanye West had a good run with his Adidas partnership, but that ended up crumbling thanks to West’s antisemitic comments and Adidas not being interested in having their brand attached to that sort of thing. But, Adidas x Yeezy isn’t quite finished yet.

Is Adidas Still Selling Kanye West’s Yeezy Sneakers?

They sure are.

Last May, it was revealed that Adidas had decided to sell off their remaining Yeezy stock after terminating their partnership with West. Adidas CEO Bjorn Gulden said at the time, “What we are trying to do now over time is sell parts of this inventory and donate money to the organizations that are helping us and that were also hurt by Kanye’s statements.”

That decision ended up paying off financially: That August, it was reported the company had brought in nearly half a billion dollars from the Yeezy inventory.

Then, today (February 26), the company announced additional releases of existing Yeezy products. West didn’t take this news well, writing on Instagram, “Anybody who loves Ye would not buy these fake Yeezys. I never made these colorways. I’m not getting paid off of them and adidas is suing me. All these celebrities and the public will stand against a T-shirt or the color of my hat but when yall see me have my children hidden from me or see an actual Fortune 500 company rape one of your heroes in real life don’t nobody say nothing or do nothing. As far as the system goes What yall gone do now? Take my album down again? Freeze my accounts again? Threaten people to not work with me again? All the new non approved 350’s are cooorny.”

Did Kanye West Make The New Adidas YZY 350s?

February 26, 2024 by newhiphopnews

In early 2023, after discontinuing its partnership with Kanye West and his Yeezy brand, Adidas announced that it had reached an agreement to continue selling YZY-branded shoes without West’s involvement. The deal was intended to help Adidas liquidate nearly $1 billion in unsold merchandise as an alternative to destroying it. In August, it was reported that the first batch of YZYs sold turned around nearly $500 million in sales for a quarter of the warehoused goods, donating a portion of the profit to the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.

With Adidas announcing its next run of releases, though, it looks like Mr. West is very upset about his lack of involvement. Commenting on an Instagram fan page’s post about the announcement, Kanye absolutely unloaded on Adidas’ leadership, complaining about his public treatment over the last year and a half (which was entirely self-induced, it must be noted).

“Anybody who loves Ye would not buy these fake Yeezys,” he wrote. “I never made these colorways. I’m not getting paid off of them and adidas is suing me. All these celebrities and the public will stand against a T-shirt or the color of my hat but when yall see me have my children hidden from me or see an actual Fortune 500 company rape one of your heroes in real life don’t nobody say nothing or do nothing. As far as the system goes What yall gone do now? Take my album down again? Freeze my accounts again? Threaten people to not work with me again? All the new non approved 350’s are cooorny.”

According to sources with knowledge of the deal, though, West rarely attended meetings to give approvals, so… again… maybe don’t throw rocks and complain about all the glass. The lawsuit he refers to here was over $100 million the company delivered to him for marketing purposes which he secreted away into other accounts for other Yeezy projects and has yet to return. Adidas, meanwhile, is being sued by its own shareholders over his actions.

Kanye West Gets Praise From Snoop Dogg, & More After Revealing Adidas Is Suing Him For $250 Million

February 26, 2024 by newhiphopnews

Kanye West shared multiple posts about Adidas continuing to sell its inventory of the Yeezy Boost 350 on Instagram, on Monday. He says that he’s getting no profit from the sales and advised fans not to purchase the sneaker. Additionally, he revealed Adidas is still suing him for $250 million. In response, many followers shared their support for him in the comments section.

“Speak ya truth,” Snoop Dogg commented on a video of West explaining the situation. Colby Covington called for a boycott of the brand. Another fan suggested: “Just move back to Nike ye. They gon love you there.” One user joked: “Kanye gets in front of a mirror every time he talks to make sure he talking to the brightest person in the room when he rants. That’s why he never looking at the camera.”

Kanye West Attends Milan Fashion Week

MILAN, ITALY – FEBRUARY 23: Renzo Rosso, Kanye West and Bianca Censori attend the Marni fashion show during the Milan Fashion Week Womenswear Fall/Winter 2024-2025 on February 23, 2024 in Milan, Italy. (Photo by Arnold Jerocki/Getty Images)

In another post, Ye shared a screenshot of Adidas selling a grey version of the Yeezy Boost 350 and explained that the sneaker is “corny” now. “Anybody who loves Ye would not buy these fake Yeezys,” he wrote. “I never made these color ways I’m not getting paid off of them and adidas is suing me. All these celebrities and the public will stand against a T shirt or the color of my hat but when yall see me have my children hidden from me or see an actual Fortune 500 company rape one of your heroes in real life don’t nobody say nothing or do nothing. As far as the system goes What yall gone do now Take my album down again Freeze my accounts again Threaten people to not work with me again. All the new non approved 350’s are cooorny and everybody know the 350 been corny.”

Kanye West Goes Off On Adidas

View this post on Instagram

A post shared by Ye (@kanyewest)

Adidas announced the company would be continuing to sell the inventory of its Yeezy products and donating the proceeds to charity back in 2023. Be on the lookout for further updates on Kanye West on HotNewHipHop.

[Via]

The post Kanye West Gets Praise From Snoop Dogg, & More After Revealing Adidas Is Suing Him For $250 Million appeared first on HotNewHipHop.

Bjørn Gulden Net Worth 2024: What Is The Adidas CEO Worth?

February 14, 2024 by newhiphopnews

Bjørn Gulden, the CEO of Adidas, has garnered substantial attention not only for his remarkable leadership but also for his amassed wealth. With an estimated net worth of around $125 million as per Popularnetworth, Gulden’s financial status has become a subject of interest for many. Let’s delve into the trajectory of his career, the highlights of his tenure at Adidas, and the ventures that have contributed to his considerable wealth.

Rise To Prominence

19 February 2020, Bavaria, Herzogenaurach: Björn Gulden (r), Chairman and Managing Director of the sporting goods manufacturer Puma SE, and Michael Lämmermann, Puma’s CFO, are standing in front of the company logo before the start of the company’s annual press conference. Photo: Daniel Karmann/dpa (Photo by Daniel Karmann/picture alliance via Getty Images)

Bjørn Gulden’s journey to success is marked by his exceptional leadership skills and business acumen. Before joining Adidas, Gulden held various prominent positions in renowned companies, including Puma and Deichmann Group. Furthermore, his expertise in the sports industry and his ability to drive growth made him a sought-after figure in the corporate world.

Appointment As Adidas CEO

In January 2023, Bjørn Gulden assumed the role of CEO at Adidas, stepping into the shoes of Kasper Rorsted. His appointment undoubtedly brought a wave of anticipation and excitement within the industry, given his stellar track record and deep understanding of the sportswear market. Since taking on the helm, Gulden has spearheaded strategic initiatives aimed at further solidifying Adidas’s position as a global leader in the athletic apparel industry.

Contributions To Adidas’s Success

Under Gulden’s leadership, Adidas has witnessed significant milestones and accomplishments. His visionary approach has guided the company through challenging times, enabling it to adapt to evolving consumer trends and market dynamics successfully. Additionally, Gulden’s emphasis on innovation, sustainability, and consumer-centric strategies has propelled Adidas to new heights, resulting in sustained growth and profitability.

Diversified Ventures

Beyond his role at Adidas, Bjørn Gulden has ventured into various business endeavors that have contributed to his substantial net worth. From investments in startups to strategic partnerships with prominent brands, Gulden has demonstrated a knack for identifying lucrative opportunities and capitalizing on them effectively. His diversified portfolio reflects his entrepreneurial spirit and his commitment to exploring new avenues for growth and success.

Gulden’s entrepreneurial ventures extend beyond the realm of sports apparel, encompassing sectors such as technology, hospitality, and entertainment. His forward-thinking approach and willingness to embrace innovation have enabled him to thrive in a competitive business landscape, further augmenting his wealth and influence.

Conclusion

In conclusion, Bjørn Gulden’s estimated net worth of $125 million underscores not only his financial success but also his exceptional leadership skills and business foresight. As the CEO of Adidas, Gulden continues to steer the company towards greater heights, leveraging his expertise and vision to drive innovation and sustainable growth. Moreover, his diversified ventures beyond Adidas serve as a testament to his entrepreneurial spirit and his commitment to exploring new opportunities. As Gulden’s influence and impact continue to expand, his net worth is likely to reflect the fruits of his continued success and endeavors.

The post Bjørn Gulden Net Worth 2024: What Is The Adidas CEO Worth? appeared first on HotNewHipHop.

Kanye West Sparks Adidas Rumors After Posing With The Company’s CEO

February 13, 2024 by newhiphopnews

Kanye West is having a whirlwind last couple of days. Overall, a lot of this is because he just dropped off his new album Vultures. So far, fans are enjoying the project. Although when it comes to the critics, that has been another story entirely. Not everyone is a fan of the direction Ye is going in here. For instance, the lyrics aren’t exactly anything to write home about. Moreover, the references to his anti-semitic ramblings have made things even worse for himself. However, he remains one of the biggest streaming artists of the weekend.

Now, he is aiming to go all out when it comes to sneakers. For instance, he dropped off a Yeezy Super Bowl ad that made him $19 million in sales. Overall, it is clear that Ye wants to make shoes a big part of his offerings again. After cutting ties with Adidas, he took a break from shoes. Although now, his return to shoes is bringing about some interesting rumors. For instance, Ye recently posed with Adidas CEO Bjorn Gulden with the caption “make Adidas great again.” This has subsequently led to speculation about Ye reuniting with the company.

Kanye West x Bjorn Gulden

View this post on Instagram

A post shared by Ye (@kanyewest)

When Adidas let Ye walk away from his contract, both sides lost out on close to $1 billion in revenue. This subsequently led to a huge sell-off that brought some money back for both sides. In interviews, Gulden has never ruled out the possibility of working with Ye again some day. Now, Ye is back in the sneaker game and he is posing with the Adidas CEO. One can put two and two together and come to a conclusion. Of course, there is no telling what Ye plans to do. However, this timing feels very strange.

Let us know what you think Ye should do, in the comments section down below. Do you want to see him with Adidas again? Additionally, stay tuned to HNHH for the latest news and updates from around the music world. We will always be sure to keep you informed on all of your favorite artists and their upcoming releases.

The post Kanye West Sparks Adidas Rumors After Posing With The Company’s CEO appeared first on HotNewHipHop.

50 Cent Celebrates After Getting Anthony Edwards’ Game-Worn Sneakers

February 5, 2024 by newhiphopnews

50 Cent has been around more than a few NBA teams as of late. Overall, a huge reason for this is the fact that Sire Spirits has been sponsoring numerous teams. For instance, he has gotten some time with the Minnesota Timberwolves. Despite the T-Wolves being bad for many years, they are finally really good. In fact, they are currently second in the Western Conference, and some believe they could go all the way and win themselves an NBA title. No one knows for sure if that is in the cards, but they are evolving quite nicely.

One player who has been responsible for this rise is none other than Anthony Edwards. Overall, Edwards is a player who has shown great resolve. Some have even compared him to Michael Jordan, which is pretty special. Interestingly enough, just like Michael, he now has his own signature shoe. He has a model with Adidas, and recently, he wore an all-blue pair. After showing up to the game, 50 Cent was brought near the locker room, where Ant took off the shoes and gave them to the hip-hop legend.

A Win For 50 Cent

50 Cent seemed to be pretty hype about getting the shoes. After all, Edwards is a player whose stock continues to rise. If he continues on this superstar trajectory, those shoes may just be worth a whole lot of money someday. Either way, the Timberwolves took home an easy win against the Houston Rockets, and Fif has some new shoes. All-in-all, it was a pretty successful night for every single person involved. Hopefully, the T-Wolves are able to continue this Cinderella season and finish it off with some playoff success.

Let us know what you think of Anthony Edwards and his signature sneaker. Is it a silhouette that you are rocking with? Additionally, stay tuned to HNHH for the latest news and updates from around the music and sports worlds. We will always be sure to keep you informed.

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Kanye West Net Worth 2024: Updated Wealth Of The Megastar Rapper

January 24, 2024 by newhiphopnews

Kanye West, now known as Ye, is a multi-talented artist and entrepreneur. This staggering wealth can be attributed to his various successful ventures, including his illustrious music career and lucrative fashion line. In this article, we’ll delve into how Kanye West’s net worth has soared over the years and what factors have contributed to his immense fortune.

Kanye West Net Worth

With a net worth of $500 million as of 2024, according to Celebrity Net Worth, Ye is one of the richest rappers in the world.

Music Career: The Foundation Of Kanye West’s Net Worth

INDIO, CALIFORNIA – APRIL 21: Kanye West performs Sunday Service during the 2019 Coachella Valley Music And Arts Festival on April 21, 2019 in Indio, California. (Photo by Rich Fury/Getty Images for Coachella)

Kanye West began his career as a music producer, working with industry giants such as Jay-Z, Beyoncé, and Alicia Keys. However, it was his debut album, The College Dropout, that propelled him to stardom in 2004. Kanye has since released numerous chart-topping albums, including Late Registration, Graduation, 808s & Heartbreak, My Beautiful Dark Twisted Fantasy, Yeezus, The Life of Pablo, Ye, and Jesus Is King.

His music has earned him 22 Grammy Awards, making him one of the most awarded artists of all time. Additionally, his record sales and concert tours have generated hundreds of millions of dollars in revenue, forming the foundation of his net worth.

Yeezy

HOLLYWOOD, CA – JUNE 28: (L-R) adidas CMO Eric Liedtke and Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye West announce the future of their partnership: adidas + KANYE WEST. (Photo by Jonathan Leibson/Getty Images for ADIDAS)

Beyond his music career, Kanye West has made a significant impact on the fashion industry with his Yeezy brand. Initially launched in collaboration with Nike in 2009, Yeezy later partnered with Adidas in 2013. The Yeezy Boost sneakers, released in 2015, quickly became a cultural phenomenon and are now highly sought-after items.

Forbes reported that Yeezy generated over $1.5 billion in sales in 2020, with Kanye receiving royalties of around $191 million. The continued success of the Yeezy brand has played a pivotal role in boosting Kanye West’s net worth.

Other Ventures

AUSTIN, TX – MARCH 19: Kanye West performs during VEVO Presents: G.O.O.D. Music at VEVO Power Station on March 19, 2011 in Austin, Texas. (Photo by Daniel Boczarski/Getty Images for VEVO)

Kanye West has further diversified his income through various other ventures. He founded the record label G.O.O.D. Music in 2004, which signed popular artists such as Big Sean, Pusha T, and Teyana Taylor. Additionally, he has ventured into the film industry, directing and producing the short film Runaway in 2010 and the 2019 IMAX film Jesus Is King.

Moreover, Kanye has invested in several businesses, including music streaming service Tidal and food chain Fatburger. These diverse ventures have contributed to his overall net worth, solidifying his status as a multi-talented entrepreneur.

Philanthropy

Kanye West has used his wealth to support various charitable causes throughout his career. He founded the Kanye West Foundation in 2003, which aimed to help combat the high school dropout rate and provide resources for music education. Later, he launched the Donda West Foundation in honor of his mother. Kanye has continued to donate to various causes, including disaster relief efforts, education initiatives, and social justice organizations.

Conclusion/TLDR

Kanye West’s $500 million net worth is a testament to his diverse talents, relentless work ethic, and innovative spirit. From his groundbreaking music to his influential fashion brand, Kanye has left an indelible mark on the entertainment industry. As he continues to pursue new ventures, there’s no doubt that Kanye West’s net worth will remain a topic of interest for years to come.

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Adidas Trae Young 3 “White/Red” Officially Unveiled: Release Details

January 17, 2024 by newhiphopnews

One of the best signature basketball shoes on the market right now is the Adidas Trae Young 3. Overall, Young is a phenomenal talent in the league so it makes sense that he would have his own signature. So far, the Trae Young series has proven to be a success for Adidas. While it has been hard to keep up with the likes of Nike and Jordan Brand, Young has a big enough fanbase to sustain the line. Furthermore, the brand has done a great job of delivering a plethora of dope colorways to the table.

The basketball season is currently in full swing, which means hoopers might be looking to upgrade in the middle of their seasons. Consequently, it only makes sense that the brands would continue to bring out some new colorways. Well, that is very much true of the Adidas Trae Young 3. Below, you can find official images for the new “White/Red” color scheme. While it isn’t much of a name, it really does not need one. After all, these two colors have always gone together extremely well.

“White/Red” Adidas Trae Young 3

Firstly, the shoe has a white base thanks to the chunky midsole and some of the upper. However, the second part kicks in with a heavy dose of red that has some spotted aesthetics that bleed into the white. Subsequently, we get black on the tongue, as well as the back heel. It is a great-looking shoe that will definitely help you stand out.

Another Look

According to Sneaker Bar Detroit, the Adidas Trae Young 3 in the white and red color scheme will drop on February 1st. Moreover, the shoe is going to come with a $140 USD price tag. Overall, this is going to be a sturdy option for the court. Let us know what you think of these, down in the comments section below. Additionally, stay tuned to HNHH for the latest news and updates from around the sneaker world. We will always be sure to keep you informed on the biggest releases.

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