Adidas has emerged from its bruising tie-in with rapper Kanye West and says it expects to make profits of €700m (£598m) in 2024. In February the German sportswear giant said it planned to sell its remaining Yeezy trainers from its partnership with West for at least cost price. Tuesday’s upbeat comments from Adidas come a month after the company posted …
Adidas dropped the shoe on Kanye West in October 2022 after the latter made a string of anti-Semitic rants. Since, however, the German sportswear maker is bracing for a turmoil never faced in the last thirty years. Following the multi-billion company’s lodestar exit, its annual revenue is expected to slump by $1.27 billion this year. The Chief Financial Officer Harm …
Herzogenaurach, Germany: Adidas said Wednesday it was still weighing what to do with its huge inventory of Kanye West´s Yeezy products after it ended its partnership with the controversial rapper. Potentially not selling the apparel and shoes linked to West would lead to a revenue loss of 1.2 billion euros ($1.3 billion), the group said, announcing its 2022 full-year results. …
Kanye West and Adidas had a very public split during the late stages of 2022. Overall, it is very easy to see why Adidas wanted to drop Ye. Firstly, Kanye was the one who technically initiated the breakup. Secondly, West was in the middle of his anti-Semitic tirades that included praise for figures like Adolf Hitler. Adidas was not …
The company warned Thursday that it’s expected to lose $1.3 billion (1.2 billion euro) in revenue this year because it’s unable to sell the designer’s Yeezy clothing and shoes. Adidas ended its nine-year partnership with the rapper last October because of his antisemitic remarks. In a statement, Adidas said its financial guidance for 2023 “accounts for the significant adverse impact …
Adidas has been having a bit of a problem as of late, especially as it pertains to Kanye West and Yeezy. Firstly, we must set the stage in order to explain the problem correctly. It all began many months ago as Ye was looking to shed himself off his Adidas deal. Overall, his methods of doing so were highly debated, …
Adidas has been worried about Kanye West’s relationship around staff for years, per the WSJ. Execs suggested spinning off the Yeezy brand or even buying the trademark outright in 2018, per the report. Staff told the WSJ that Ye made anti-Semitic comments and watched pornography at work. Current and former staff told the publication that both Adidas staffers and executives …
Rolling Stone reported claims from some workers on the Yeezy collaboration, saying he showed them explicit pictures and videos as part of bullying tactics. In a letter, they said bosses were aware of West’s “problematic behaviour” but “turned their moral compass off”. Adidas said it did not yet know whether the allegations have any merit. “It is currently not clear …
Kanye West’s Yeezy designs will, in fact, live on at Adidas after all … but they’ll have a completely different title when they drop. Adidas honchos announced Wednesday the company plans to continue selling more of the Ye-inspired shoes starting as early as 2023, but without a trace of the Yeezy name … according to Insider. Adidas reportedly emphasized to …
Adidas (ADDDF) ended its sneaker partnership with Ye, formerly known as Kanye West, last month after the musician’s anti-Semitic tirade. But Adidas (ADDDF) will continue to sell the lucrative sneaker and apparel line, stripped of the Yeezy name and branding. The company said it’s the sole owner of all Yeezy line design rights for both existing and future colors and …
