After filing a
$4 million breach of contract lawsuit against sneaker giant Reebok last month,
Pharell Williams, one half of the production duo The Neptunes recently negotiated
a mutual split with the company.
In 2003, Reebok
and Pharell agreed established a licensing-and-distribution partnership to launch
Williams’ Ice Cream footwear collection and HIS Billionaire Boys Club
Since then, Williams
alleged that the company continuously failed to meet distribution and quality
standards for his sneaker and clothing collection.
I both understand we have very different visions for my clothing line, BBC and
my sneaker line, Ice Cream," Williams revealed in a statement. "I
have learned a great deal doing business with Reebok, and it has been a great
experience. I am pleased that we can part ways amicably and am excited to launch
my line independently.”
Under the terms
of the agreement, Williams agreed to drop the suit and will continue to sell
merchandise through his billionaire boys club imprint until June 30.
Reebok Chief marketing officer agreed with Williams’s statement noting
that the conflict of strategies from both companies didn’t mesh.
we would have liked for this venture to have been more successful, in the end,
we both realize that the design and distribution fit just wasn't there,"
Williams did note that he would soon announce future plans to
distribute his apparel and sneaker line.