Adidas is stating it remains in a major monetary pinch … and it’s blaming the bind straight on its choice to divide from Kanye West.
The athletic brand name provided the uneasy upgrade Thursday, stating it’s anticipated to lose a massive $1.3 billion in sales in 2023 — and the business says it’s due to the fact that it’s not able to sell all the Yeezy shoes and clothing it still owns.
As we reported, Adidas cut ties with Ye in 2015 after his antisemitic comments and actions … however the brand name revealed right after dropping him that it would continue to sell Kanye’s styles, simply without the Yeezy name.
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Adidas Ends Kanye West, Yeezy Partnership
Based on the monetary report, it does not appear like that’s working.
The declaration says it could lose another $534 mil if it ends on repurposing the staying Yeezy stow away — CEO Bjøregistered nurse Gulden includes, “The numbers speak for themselves. We are currently not performing the way we should.” He says 2023 is a year of shift for the brand name.
10/25/22
TMZ.com
FYI — we reported there’s a provision in Ye’s agreement with Adidas that says he could get a reduced fee if his styles get offered with a rebrand … however we were informed the brand name merely isn’t cutting look for him.
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