Sportswear giant Adidas has ended its partnership with Ye, also known as Kanye West with 'immediate effect'. The brand issued a statement announcing its decision. It comes as a reaction to West's recent antisemitic comments.&nbsp; 
 
The sportswear brand issued a statement on Tuesday and said it "does not tolerate antisemitism and any other sort of hate speech” and said that his recent comments were “unacceptable, hateful and dangerous.”&nbsp; 
 
Adidas said West's views violated the company’s “values of diversity and inclusion, mutual respect and fairness.”

The termination of partnership will result in a loss of USD 246 for the brand in its fourth-quarter sales. The production and sales of his Yeezy products have stopped as well as payments to West and his companies.&nbsp;

West partnered with Adidas in 2013, when he ended his relationship with rival brand Nike. In 2016, the brand expanded its relationship with the rapper calling it the most expensive partnership it has had with a non-athlete.&nbsp; 
Earlier this month, it announced that it was putting the partnership under review after he wore 'White live Matter'&nbsp;T-shirt during Paris Fashion Week.&nbsp;

A few days later West had said he should say "antisemitic s***" and Adidas could not drop him. The rapper mentioned the brand during a tirade against Jews in a podcast. He also threatened on Twitter to “Go death con 3 on JEWISH PEOPLE.”

Adidas is not the first brand to have cut ties with the rapper. Balenciaga and Vogue to have earlier cut ties with West over his controversial remarks. On Monday, talent agency CAA dropped West as a client. Production company MRC said that it’s shelving a documentary on West.

Sportswear giant Adidas has ended its partnership with Ye, also known as Kanye West with 'immediate effect'. The brand issued a statement announcing its decision.

Sportswear giant Adidas has ended its partnership with Ye, also known as Kanye West with 'immediate effect'. The brand issued a statement announcing its decision. It comes as a reaction to West's recent antisemitic comments. The sportswear brand issued a statement on Tuesday and said it "does not tolerate antisemitism and any other sort of hate speech” and said that his recent comments were “unacceptable, hateful and dangerous.” Adidas said West's views violated the company’s “values of diversity and inclusion, mutual respect and fairness.” The termination of partnership will result in a loss of USD 246 for the brand in its fourth-quarter sales. The production and sales of his Yeezy products have stopped as well as payments to West and his companies. West partnered with Adidas in 2013, when he ended his relationship with rival brand Nike. In 2016, the brand expanded its relationship with the rapper calling it the most expensive partnership it has had with a non-athlete. Earlier this month, it announced that it was putting the partnership under review after he wore 'White live Matter' T-shirt during Paris Fashion Week. A few days later West had said he should say "antisemitic s***" and Adidas could not drop him. The rapper mentioned the brand during a tirade against Jews in a podcast. He also threatened on Twitter to “Go death con 3 on JEWISH PEOPLE.” Adidas is not the first brand to have cut ties with the rapper. Balenciaga and Vogue to have earlier cut ties with West over his controversial remarks. On Monday, talent agency CAA dropped West as a client. Production company MRC said that it’s shelving a documentary on West.

Adidas terminates partnership with Kanye West over his antisemitic remarks

A pair of Nike Air Yeezy 1s worn by rapper Kanye West sold for $1.8 million, triple the previous record for sneakers, Sotheby's said Monday, as the market for rare sports shoes soars.

The shoes beat the record held by a pair of Nike Air Jordan 1s which sold for $615,000 in August 2020 at a Christie's auction.

The record price for sneakers has been broken several times recently as what was seen as a niche market 10 years ago now attracts interest from the general public as well as leading collectors.

"The sale marks the highest publicly recorded price for a sneaker sale ever," Sotheby's said in a statement.&nbsp;

"The sale also marks the first pair of sneakers to top $1 million," it added.

The black high-top Yeezys were worn by West during the 2008 Grammy Awards as he performed "Hey Mama" and "Stronger."

The sneakers, which were part of a collaboration between Nike and West, were prototypes, with the resulting model not going on sale until April 2009. 
 
- Sturdy investment?&nbsp;

The shoes were acquired by RARES, a sneaker investment marketplace that allows users to invest in rare pairs of athletic footwear.

Individuals can buy shares in a pair, just as investors buy stock in a company.

RARES, launched in March by former American football player Gerome Sapp, bought the Air Yeezy 1s through a private sale from sneaker collector Ryan Chang.

The sale price exceeded Sotheby's estimate of $1 million.

"That was actually the grail of grails," said Sapp.&nbsp;

The sneaker is expected to list on the platform's "stock exchange" at around $15-20 per share on June 16, he explained.

Sapp predicts that the company will carry out three or four IPO-like listings before then, including of a pair of Nike Air Force 1s made in collaboration with rapper Jay-Z.

Before collaborating with West, Nike had named shoes only in honor of famous athletes. 
 
&nbsp;

The Air Yeezy 1 was released, in limited edition in 2009, followed by the Air Yeezy 2 in 2012.

Most Air Yeezy 1s sell for between $2,000 and $4,000, depending on the model.

West initially teamed up with Nike before switching to Adidas to create his own line.

Brahm Wachter, head of streetwear and new collectibles at Sotheby's, said Monday's price "speaks volumes of Kanye's legacy as one of the most influential clothing and sneaker designers of our time, and of the Yeezy franchise he has built which has become an industry titan."

Yeezy sneakers generated nearly $ 1.7 billion in revenue in 2020, according to an internal note from UBS bank, reported by Bloomberg.

According to financial firm Cowen, the global collectible sneaker resale market could be worth $30 billion by 2030.

Michael Jordan's Air Jordan 1 Highs that Christie's sold in August were worn by the basketball legend during a 1985 exhibition match in Italy when he dunked the ball so hard it shattered the backboard.

That sale broke a record set in May 2020 when a pair of Air Jordan 1s sold for $560,000.

Sotheby's in Geneva announced Monday that it would auction several sneakers worn by basketball greats including Jordan, Kareem Abdul Jabbar and Stephen Curry.

The highlight of the May 1 to May 12 sale will be a pair of Air Jordan 1s worn by Jordan during his debut season in the NBA in 1984-85.

A pair of Nike Air Yeezy 1s worn by rapper Kanye West sold for $1.8 million, triple the previous record for sneakers, Sotheby's said Monday, as the market for rare sports shoes soars.

A pair of Nike Air Yeezy 1s worn by rapper Kanye West sold for $1.8 million, triple the previous record for sneakers, Sotheby's said Monday, as the market for rare sports shoes soars. The shoes beat the record held by a pair of Nike Air Jordan 1s which sold for $615,000 in August 2020 at a Christie's auction. The record price for sneakers has been broken several times recently as what was seen as a niche market 10 years ago now attracts interest from the general public as well as leading collectors. "The sale marks the highest publicly recorded price for a sneaker sale ever," Sotheby's said in a statement. "The sale also marks the first pair of sneakers to top $1 million," it added. The black high-top Yeezys were worn by West during the 2008 Grammy Awards as he performed "Hey Mama" and "Stronger." The sneakers, which were part of a collaboration between Nike and West, were prototypes, with the resulting model not going on sale until April 2009. - Sturdy investment? The shoes were acquired by RARES, a sneaker investment marketplace that allows users to invest in rare pairs of athletic footwear. Individuals can buy shares in a pair, just as investors buy stock in a company. RARES, launched in March by former American football player Gerome Sapp, bought the Air Yeezy 1s through a private sale from sneaker collector Ryan Chang. The sale price exceeded Sotheby's estimate of $1 million. "That was actually the grail of grails," said Sapp. The sneaker is expected to list on the platform's "stock exchange" at around $15-20 per share on June 16, he explained. Sapp predicts that the company will carry out three or four IPO-like listings before then, including of a pair of Nike Air Force 1s made in collaboration with rapper Jay-Z. Before collaborating with West, Nike had named shoes only in honor of famous athletes. The Air Yeezy 1 was released, in limited edition in 2009, followed by the Air Yeezy 2 in 2012. Most Air Yeezy 1s sell for between $2,000 and $4,000, depending on the model. West initially teamed up with Nike before switching to Adidas to create his own line. Brahm Wachter, head of streetwear and new collectibles at Sotheby's, said Monday's price "speaks volumes of Kanye's legacy as one of the most influential clothing and sneaker designers of our time, and of the Yeezy franchise he has built which has become an industry titan." Yeezy sneakers generated nearly $ 1.7 billion in revenue in 2020, according to an internal note from UBS bank, reported by Bloomberg. According to financial firm Cowen, the global collectible sneaker resale market could be worth $30 billion by 2030. Michael Jordan's Air Jordan 1 Highs that Christie's sold in August were worn by the basketball legend during a 1985 exhibition match in Italy when he dunked the ball so hard it shattered the backboard. That sale broke a record set in May 2020 when a pair of Air Jordan 1s sold for $560,000. Sotheby's in Geneva announced Monday that it would auction several sneakers worn by basketball greats including Jordan, Kareem Abdul Jabbar and Stephen Curry. The highlight of the May 1 to May 12 sale will be a pair of Air Jordan 1s worn by Jordan during his debut season in the NBA in 1984-85.

Kanye West sneakers shatter sale records at $1.8 mn

Kanye West's apparel brand Yeezy has sued one of its former interns for breaching a non-disclosure agreement.

According to The Hollywood Reporter, the intern who reportedly worked for the company from February 2020 to summer 2020, allegedly shared confidential Yeezy photos on his Instagram account, according to a complaint filed in Los Angeles County Superior Court.

The NDA that intern signed included a $500,000 liquidated damages provision. By signing the agreement, the intern would have agreed not to share confidential information on social media, which Yeezy is claiming he did when he posted photos on his personal Instagram account.

The complaint claims that despite multiple cease and desist letters having been sent to Inwards, Inwards continued to "publicly post Unauthorized Materials on social media sites."

Yeezy is seeking punitive damages, claiming Inwards acted maliciously, in addition to the $500,000 for breach of contract and conversion.

In 2015, West, 43, launched the brand with a debut at New York Fashion Week. The Yeezy look of monochrome streetwear basics has become a celebrity staple, and the brand's iconic sneakers are incredibly popular.

Kanye West's apparel brand Yeezy has sued one of its former interns for breaching a non-disclosure agreement. According to The Hollywood Reporter, the intern who reportedly worked for the company from February 2020 to summer 2020, allegedly shared confidential Yeezy photos on his Instagram account, according to a complaint filed in Los Angeles County Superior Court.

Kanye West's apparel brand Yeezy has sued one of its former interns for breaching a non-disclosure agreement. According to The Hollywood Reporter, the intern who reportedly worked for the company from February 2020 to summer 2020, allegedly shared confidential Yeezy photos on his Instagram account, according to a complaint filed in Los Angeles County Superior Court. The NDA that intern signed included a $500,000 liquidated damages provision. By signing the agreement, the intern would have agreed not to share confidential information on social media, which Yeezy is claiming he did when he posted photos on his personal Instagram account. The complaint claims that despite multiple cease and desist letters having been sent to Inwards, Inwards continued to "publicly post Unauthorized Materials on social media sites." Yeezy is seeking punitive damages, claiming Inwards acted maliciously, in addition to the $500,000 for breach of contract and conversion. In 2015, West, 43, launched the brand with a debut at New York Fashion Week. The Yeezy look of monochrome streetwear basics has become a celebrity staple, and the brand's iconic sneakers are incredibly popular.

Kanye West's brand Yeezy sues former intern for allegedly sharing confidential photos on social media

Ventures backed by big-name entertainers Kanye West and Francis Ford Coppola were among those approved for loans under a U.S. government program to help businesses survive the coronavirus pandemic, according to a list released on Monday. 
 
Billionaire rapper West`s clothing brand Yeezy received clearance for a loan of between $2 million and $5 million under the Paycheck Protection Program, the U.S. Small Business Administration said. 
 
The company said the loan would save 160 jobs, according to the SBA. 
 
The PPP was established to aid workers at companies and nonprofits with fewer than 500 employees hurt by closures and other measures meant to slow the spread of the novel coronavirus. The list released Monday gave the most-detailed accounting to date of who applied for and was approved to receive funds. 
 
Several Hollywood production companies applied for PPP aid after filming was halted in mid-March, putting tens of thousands of cast and crew members out of work. Approved applicants included The Jim Henson Company, creator of the Muppets, and The Apatow Company, run by writer/director Apatow. 
 
A spokeswoman for Apatow said he received $160,000 under the program but immediately paid it back. 
 
The Jim Henson Company received roughly $2 million, which enabled it to keep the entire staff of 75 workers employed, company spokeswoman Nicole Goldman said. 
 
Other loan applicants from the world of entertainment included filmmaker Coppola`s Francis Ford Coppola Presents, a lifestyle brand that markets films, wine and other products, and e-sports company FaZe Clan, according to the SBA. 
 
Cinema operators, which were forced to close in March, also applied for relief. Theater chains approved for loans included California-based Laemmle Theatres and Regency Theatres, the government list said.

Ventures backed by big-name entertainers Kanye West and Francis Ford Coppola were among those approved for loans under a U.S. government program to help businesses survive the coronavirus pandemic, according to a list released on Monday.

Ventures backed by big-name entertainers Kanye West and Francis Ford Coppola were among those approved for loans under a U.S. government program to help businesses survive the coronavirus pandemic, according to a list released on Monday. Billionaire rapper West`s clothing brand Yeezy received clearance for a loan of between $2 million and $5 million under the Paycheck Protection Program, the U.S. Small Business Administration said. The company said the loan would save 160 jobs, according to the SBA. The PPP was established to aid workers at companies and nonprofits with fewer than 500 employees hurt by closures and other measures meant to slow the spread of the novel coronavirus. The list released Monday gave the most-detailed accounting to date of who applied for and was approved to receive funds. Several Hollywood production companies applied for PPP aid after filming was halted in mid-March, putting tens of thousands of cast and crew members out of work. Approved applicants included The Jim Henson Company, creator of the Muppets, and The Apatow Company, run by writer/director Apatow. A spokeswoman for Apatow said he received $160,000 under the program but immediately paid it back. The Jim Henson Company received roughly $2 million, which enabled it to keep the entire staff of 75 workers employed, company spokeswoman Nicole Goldman said. Other loan applicants from the world of entertainment included filmmaker Coppola`s Francis Ford Coppola Presents, a lifestyle brand that markets films, wine and other products, and e-sports company FaZe Clan, according to the SBA. Cinema operators, which were forced to close in March, also applied for relief. Theater chains approved for loans included California-based Laemmle Theatres and Regency Theatres, the government list said.

Kanye West's clothing brand, Hollywood production companies on US government's pandemic loan list

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Adidas terminates partnership with Kanye West over his antisemitic remarks

Kanye West sneakers shatter sale records at $1.8 mn

Kanye West's brand Yeezy sues former intern for allegedly sharing confidential photos on social media

Kanye West's clothing brand, Hollywood production companies on US government's pandemic loan list