Yeezy

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

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

Wontumi2Showbiz, ,
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…
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Adidas Lowers Earnings Outlook After Breakup With Yeezy
09 Nov

Adidas Lowers Earnings Outlook After Breakup With Yeezy

Wontumi2Showbiz,
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…
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