Adidas Holds Kanye West Tie Under Review: Report

Adidas AG ADDYY is reviewing its relationship with rapper Kanye West following recent issues when the rapper publicly accused Adidas CEO of not providing him control over Yeezy.
Adidas announced its partnership with West in 2013. West also agreed in 2016 to manufacture and distribute items from his Yeezy clothing line.
Related: Kanye West's Feud With Adidas And Gap Heats Up: What's On The Line For Him And The Companies
In September, West terminated Yeezy's partnership with Gap Inc GPS.
His sneaker and apparel business with Adidas AG and Gap was recently valued at between $3.2 billion and $4.7 billion by UBS, CNBC reported.
Also Read: Kanye West Confirms Termination Of Yeezy's Partnership With Gap: 'A King Can't Live In Someone Else's Castle'
"After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review. We will continue to co-manage the current product during this period," the report cited the company commenting on the issue.
Price Action: ADDYY shares closed lower by 2.97% at $58.86 on Thursday.
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