Tag Archives: Adidas

NPR reports: Adidas plans to sell its stock of unsold Yeezy shoes and will donate the proceeds from the sales to charity, CEO Bjorn Gulden said Thursday. The German athletic and footwear brand cut ties with Kanye West late last year over his antisemitic remarks — leaving the company to figure out what to do with its Yeezy merchandise. During …

The BBC reports: Adidas has warned of a potential major impact on its profits after ending its partnership with rapper and fashion designer Kanye West last November. The firm’s new boss said it could lose hundreds of millions of dollars this year if it decides not to sell its stock of Yeezy sneakers. The sportswear giant cut ties with West, …

Forbes reports: Adidas gets an estimated 4% to 8% of its sales from Yeezy products, according to investment bank Cowen. For Ye, it was an even bigger deal, accounting for $1.5 billion of his net worth. The $1.5 billion value of the Adidas deal was calculated off of a multiple of annual earnings. Based on interviews with industry experts, Forbes …

Bloomberg News reports: Adidas AG is ending its partnership with Ye following a rash of offensive behavior from the rapper and designer that turned a once-thriving shoe brand into a lightning rod for criticism. The German sports company said it is cutting ties with Ye, formerly Kanye West, with immediate effect and will take a €250 million ($246.5 million) hit …

The Hill reports: Adidas faced widespread backlash after it inadvertently tweeted racist, anti-Semitic and other offensive phrases as part of its social media campaign. The sportswear giant ran its #DareToCreate campaign Monday that aimed to promote its new Arsenal shirt. If a user shared a tweet advertising the brand using the hashtag, an image of the Arsenal shirt was personalized …

Memo to Brian Brown: Germany-based Adidas Group is the second-largest sportswear manufacturer in the world with annual sales over $15 billion. Other brands under the Adidas Group umbrella are Reebok, Rockport, TaylorMade, and Stella McCartney. New Avenues For Youth is a DC-based group working to end youth homelessness.