Adidas says it is investigating allegations of inappropriate workplace conduct by the rapper formerly known as Kanye West that ex-employees made in an anonymous letter also accusing the German sportswear brand of looking the other way. Adidas, which made his Yeezy line, cut ties with Ye last month over his offensive and antisemitic remarks after facing pressure to follow other brands and companies in ending partnerships with the rapper. It said it expected to take a hit of 250 million euros ($246 million) to its net income this year from the move. Ye was suspended from Twitter and Instagram over his remarks but has been back tweeting this month. Rolling Stone has reported that it spoke to more than two dozen former Yeezy and Adidas workers and obtained a letter from several former Yeezy em...
HipHopWired Featured Video Source: Rachpoot/Bauer-Griffin / Getty No surprise, Kanye West was a horrible boss, a new Rolling Stone report details, and was pretty sick too. Following a previous scathing report detailing the extremely toxic workplace Ye was running at his company, YEEZY, another damning article from Rolling Stone has surfaced. It sheds more light on the mistreatment of employees. It alleges West repeatedly showed them “hardcore” porn during work hours in an open letter sent to the rapper’s former business partner, adidas. Per Complex: A variety of West’s actions are detailed in an open letter issued Tuesday by former high-ranking Yeezy staff members to the executive board members and CEO of Adidas. Titled “The Truth About Yeezy: A Call to Action for Adidas Leadership,” the l...
Celebrities facing huge losses from BAYC NFTs The hype behind the Bored Ape Yacht Club (BAYC) over the last year resulted in many celebrities investing in the Ethereum-based nonfungible token (NFT) collection with many, such as singer Justin Bieber, paying top dollar. Bieber paid 500 Ether (ETH) for BAYC #3001 on Jan. 29, which at the time was valued at around $1.28 million, while the current top offer on the NFT cracks just over $69,500. According to data from NFT Price Floor, the floor price for the collection has fallen considerably since it peaked at 144.9 ETH on May. 1 this year, which at the time was worth around $396,760, to a current low of 48 ETH, valued at $58,589 at the time of writing. Many other celebs also rode the wave of hype that saw the Yuga Labs made NFTs become a “blue ...
Kanye West has talked himself out of more than $1.5 billion, according to Forbes, after weeks of bigoted comments caused adidas to terminate their partnership. Ye, as he is now legally known, began the year with an estimated net worth of $2 billion, and after the release of Donda 2 and a summer of high-profile fashion rollouts, that number had likely grown. But a lot of that value came from branded partnerships that he has since shed. In September, he and Gap agreed to end the Yeezy Gap line, and that came before antisemitic posts led to restrictions on West’s social media accounts. Afterwards, as more reports began to surface that Ye had praised Hitler, JP Morgan Chase unbanked him. In October, he also wore White Lives Matter apparel and spread the conse...
HipHopWired Featured Video Source: Paul Marotta / Getty The resale market for sneakers these days have been all kinds of a struggle. But with rumors swirling that adidas may cut ties with Kanye West due to his recent antisemitic statements, resellers are holding on to their Yeezy kicks in hopes of prices hiking should the three stripes brand give Ye the boot. TMZ is reporting that sneaker resellers are holding onto their Yeezy Boosts, Slides, and any other popular adidas sneaker launched under the Yeezy line for now as they await to learn whether adidas will continue their relationship with the controversial rapper or terminate the contract that’s currently “under review.” Sneaker expert Remo of Walk Like Us tells us if Adidas ends the partnership, the market will explode, because the...