Kanye West has returned to Instagram with a bang, reigniting controversy with his first post since reactivating his account. In the early hours of Sunday (December 24), Ye took to Instagram Stories to share a black and white photo featuring a young model donning a t-shirt featuring the cover of Vultures, West’s upcoming collaboration with…
Adidas, the German sportswear giant, has raised its earnings outlook for the year after experiencing high demand for its remaining stock of discontinued Yeezy merchandise. The company now anticipates a €450 million ($491 million) operating loss in 2023, a significant improvement from the €700 million ($764 million) loss forecasted in March. Additionally, sales are expected…
Adidas is making a significant move to clear out the remaining inventory of its once-lucrative collaboration with Ye, the former Kanye West. The sportswear giant has faced pressure from investors to handle the merchandise after terminating its partnership with Ye in 2022 due to his offensive and antisemitic remarks. In May, Adidas announced its plan…
Adidas has warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers. The German sportswear maker said Wednesday that it would face an operating loss of €700 million ($736 million) this year—…
Kanye West‘s termination from adidas has reportedly left the sportswear giant in a bit of a bind and stuck with a massive overstock of Yeezy sneakers. According to the Financial Times, adidas is frantically trying to figure out how to shift $530 million worth of the rapper and producer’s once hugely popular shoe. Back in…
Adidas officially ended its sneaker partnership with Ye, formerly known as Kanye West, last month after the musician’s anti-Semitic tirade. But Adidas will continue to sell the lucrative sneaker and apparel line, stripped of the Yeezy name and branding. As reported by CNN, the company said it’s the sole owner of all Yeezy line design…
