Hip-Hop mogul Kanye West, the wealthiest rapper in the world according to Money Inc., has settled his case with Walmart regarding the department store selling “knock-off” versions of his Yeezy sneakers for $25.
The fashion designer, who became most beloved as a musician, filed the lawsuit a year ago in the Los Angeles Superior Court.
According to The Sun, his legal team cited California’s Unfair Competition Law and claimed he could lose “hundreds of millions of dollars” by the retailer selling their version of the shoes because they look almost identical to his Yeezy Foam Runners, which cost about four times as much.
New legal documents reveal that both parties agreed to settle in April of 2022 for an undisclosed amount.
As reported by AllHipHop.com, Kanye waged war on Walmart in 2021.
In the original lawsuit, the G.O.O.D. Music founder said he wanted Walmart to compensate him for damages, interest, payment of legal fees, and costs associated with the lawsuit.
He also wanted Walmart to take the sneakers off its website, but the company stood firm on selling their fake Yeezys.
His lawyers wrote in the 66-page complaint, “Walmart is flagrantly trading off of West’s and the Yeezy brand’s popularity by offering for sale an imitation version of the Yeezy Foam Runner.”
“Wаlmаrt customers аre buying fаke Yeezy Foаm Runner shoes in the mistаken belief thаt they аre аssociаted with Kаnye West аnd the Yeezy brаnd,” it further stated. “According to informаtion аnd belief, the hаrm cаused to Plаintiffs аs а result of Wаlmаrt’s illegаl аctivities could be worth hundreds of millions of dollаrs.”
In October of 2021, Walmart filed an amended objection to the lawsuit, AllHipHop.com reported.
In May, Ye filed a motion to dismiss the lawsuit. You don’t get to have a $6 billion net worth without some business savvy.