Kanye West-Walmart Case: Everything you should know!
Meanwhile, the knockoffs on Walmart’s site are retailing between $21.99 and $33.99 per pair. While Yeezy has sent legal warnings to Walmart demanding it move ripoff sneakers around
m its site, it has so far failed to do so according to suit.
Kanye West Sues Walmart for Selling Foam Yeezy Knockoffs!
The suits were reportedly filed in Los Angeles last year and revolve around hundreds of cast and production staff detailing lengthy delays in payments, unexpected cuts to those payments, and on-the-job abuse.
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The first of the two lawsuits was filed on behalf of 500 artists who, according to the Daily Mail US, claim they were forced to work for two days without food or breaks.
Michael Pearson, one of the artists representing the group in the lawsuit, said that for his time, he was reportedly told he would be paid $500, no matter how much work he did.
Why Kanye West Sues Walmart?
The billionaire’s lawsuit alleges that Walmart is profiting from his name by selling foam sliders that look “virtually indistinguishable” from its Yeezy Foam Runners.
West is suing for the removal of the shoes from Walmart’s site, as well as monetary damages. The suit said the Yeezy brand is worth “billions” of dollars, and the company believes it suffered “hundreds of millions of dollars” in damages.
For how much Walmart is Selling the Yeezy Knockoffs?
When West’s slip-on foam sneakers were introduced in 2019 for $75, they drew some derision, with people comparing the shoes to Crocs on social media.
Still, the shoes sold out quickly and have since sold for up to three times their original price, while Walmart shoes were selling for about $20 to $30, said documents filed in a Los Angeles court.
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What is the Networth of Kanye West in 2021?
Kanye West has a net worth of $6.6 billion. He is the richest black man, man or woman, in American history. Kanye has earned at least $100 million per year from his various endeavors in recent years.
The majority of his earnings have come from royalties and other earnings-related to his Yeezy brand and the Adidas partnership. Yeezy separately owns 100% of its own Yeezy apparel line but earns royalties on sales that are north of $1.5 billion per year.
Yeezy is a $4 – $5 billion brand by several private bank estimates. In March 2021, a UBS valuation estimated that Yeezy adds $3–4 billion to Kanye’s net worth bottom line. The same report estimated that Kanye’s deal with The Gap adds another $1 billion to West’s net worth.