Adidas Eyes Taylor Swift Collaboration After Parting Ways with Kanye West
Adidas, having severed ties with multi-faceted creative Kanye West and his Yeezy brand over a year ago, is actively seeking fresh collaborations, with global music sensation Taylor Swift emerging as a frontrunner.
In a recent results presentation, Adidas CEO Bjorn Gulden unveiled the company’s growth strategies, including potential partnerships with influential figures in pop culture, with Swift topping the list. Gulden pointed out Swift’s affinity for Adidas products, citing her recent public appearances sporting classic Adidas sneakers.
Addressing speculations arising from a photo posted by West in February, showing him alongside Gulden after the Super Bowl, Gulden clarified that the encounter was not a business meeting and involved no discussions regarding collaboration.
In response to past controversies surrounding West, Adidas disclosed fulfilling its commitment to donate over $150 million from Yeezy shoe sales to organizations combating anti-Semitic hate. This move, however, incurred extraordinary expenses exceeding €340 million ($370 million), including donations exceeding €140 million ($152 million) directed towards various groups.
The termination of the Adidas-West collaboration had significant financial repercussions, with Adidas reporting a net loss of €58 million ($63.1 million) in 2023, partly attributed to discontinuing the Yeezy business. West’s personal fortune also took a hit, plummeting from $2 billion to $400 million post-split.
Despite these challenges, Gulden remains cautiously optimistic about Adidas’ performance, noting flat revenues and a 2023 operating profit of €268 million ($292 million) despite the loss of substantial revenue from the Yeezy line.
The exploration of new collaborations underscores Adidas’ adaptability in the realm of brand partnerships, with Taylor Swift emerging as a potential linchpin in the brand’s future endeavors.
