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…
The sportswear company had created Yeezy through a partnership with rapper and businessman Ye, formerly known as Kanye West, that was terminated last year following controversial and offensive stances. Source link
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’ 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
Adidas has warned its unsold Yeezy stockpile could wipe out profits for the first time in three decades amid its breakup with Kanye West following his anti-Semitic rants. The retail giant’s shares plummeted over 12 percent on Friday after the company admitted it could lose hundreds of millions due to its unsellable inventory of the…
Adidas has warned of potential major profit losses after severing ties with Kanye West last year. The sportswear company terminated its partnership with West in October 2022 in light of the rapper posting a series of antisemitic comments on social media. In a statement at the time, an Adidas spokesperson said Ye’s remarks and behaviour was…