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German multinational sportswear giant Adidas faces a potential revenue loss of €1.2 billion ($1.3 billion) in 2023 if it is unable to sell its existing Yeezy stock following the termination of its partnership with rap mogul, Kanye West and the Yeezy brand in October 2022. As the company continues to evaluate future options for utilizing…
The sportswear giant cut ties with the rapper and designer, known as Ye, over anti-Semitic comments. Source link
Adidas has warned that it could take a revenue hit of €1.2bn (£1bn) and slump to a loss this year if it decides not to sell its remaining stock of products made in collaboration with Kanye West, after it cut ties with the rapper over his antisemitic comments. The German sportswear giant said its decision…
Months after adidas severed its relationship with Kanye “Ye” West following Ye’s string of anti-Semitic outbursts, YEEZY SUPPLY has died. Resale in peace. The YEEZY SUPPLY website’s URL no longer directs users to a functioning domain, presenting would-be visitors with an error message instead. When you try to pull up Google’s cached version of the…
Adidas has had its fair share of issues with Kanye West, but now, their abundance of Yeezys is definitely a big issue. Source link
Adidas’ split from rapper Ye, formerly known as Kanye West, could cost the company some big bucks. The German sportswear company said Thursday it could lose around $1.3 billion in revenue in 2023 if it’s unable to sell its existing Yeezy inventory, while operating profit would fall by about $535 million. Adidas cut ties with Ye last October because…
“We need to put the pieces back together again, but we need some time,” said new CEO Bjorn Gulden. Source link
It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about. From layoffs at Affirm to Jennifer Coolidge’s Superbowl debut for E.l.f Cosmetics, here’s our closeout for the week. What you may…
Photo Credit: BrokenSphere / CC by 3.0 Adidas stock slumps as split from Kanye triggers new profit warnings. Adidas shares fell after the company warned that the fallout from its split with Kanye could wipe out its operating profits this year for the first time in 30 years. The company missed its own forecasts with…