Adidas Archives - Wontumi Online

31 Jul

Manchester United Agree 10-Year Extension With Adidas Worth At Least £900m

Wontumi2SportsAdidas, Manchester United

Manchester United have agreed a 10-year extension to their partnership with Adidas worth a minimum of £900m. United's new deal with the German kit manufacturer runs until June 2035, with their previous 10-year deal having been worth £750m. It is thought to be the largest kit deal in Premier League history, based on revenue per season. Chelsea signed a £900m deal with Nike in 2016 but that covered a 15-year period from 2017. "The relationship between Manchester United and Adidas is one of the most iconic in world sport," said United's chief executive Richard Arnold. "With its roots in the…

05 May

Kanye West Split From Adidas ‘Hurting’ The Business – As Mountain Of Yeezy Trainers Remain Unsold

Wontumi2ShowbizAdidas, Kanye West, Yeezy

Adidas has reported a drop in sales but better than expected profits in the wake of its high-profile split from shamed rapper and fashion designer Kanye West. The sportwear company said the loss of his Yeezy trainers brand was "hurting" the business but it pointed to some of the pain being eliminated by a recovery in sales in China. Adidas had said in March it was still yet to decide what to do with a mountain of unsold Yeezy stock worth £442m - the legacy of its decision to part from West, now known as Ye, following antisemitic and other…

25 Nov

Adidas Launches Investigation Into Claims Kanye West Showed Porn And Explicit Images Of Kim Kardashian To Staff

Wontumi2ShowbizAdidas, Kanye West, Kim Kardashian

Adidas is launching an investigation into allegations of misconduct against Kanye West, including claims he showed pornography and explicit images of Kim Kardashian to staff members. The German sportswear giant, which ended its partnership with the rapper last month, said it received an anonymous letter containing several allegations against the rapper. The independent probe follows a Rolling Stone report claiming that Kanye used pornography, bullying and "mind games" to control staff. Citing interviews with more than two dozen former Yeezy and Adidas staff, the magazine detailed allegations that West played pornography to Yeezy staff in meetings, discussed porn and showed…

09 Nov

Adidas Lowers Earnings Outlook After Breakup With Yeezy

Wontumi2ShowbizAdidas, Yeezy

Shoe and sportswear maker Adidas on Wednesday lowered its earnings forecast for the full year to account for losses from ending its partnership with rapper Ye, formerly known as Kanye West, in response to the artist's antisemitic remarks. Adidas cut its sales outlook for the year as part of its third-quarter earnings statement, to a low single digit increase from a mid-single digit increase, and net profit from continuing operations to 250 million euros ($252 million) instead of 500 million euros. The company, based in Herzogenaurach, Germany, had previously said ending the partnership with Ye’s Yeezy brand would cost it…