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kanye west adidas partnership Tag

February 10, 2023
Latest News

Adidas Expected to Lose Over $1B in Sales by Dropping Kanye West

[ad_1] Dropping Kanye West could prove to be way more costly than Adidas initially projected.On Thursday (Feb. 9), Adidas released a fiscal projection statement for 2023, which reveals by not selling existing Yeezy stock, the company is expected to take a $1.3 billion hit in the next several months. Their operating profit could also be sliced by as much as $534 million.Adidas terminated its partnership with Kanye West last October, following a string of anti-Semitic comments from the controversial rapper. The split initially cost Adidas more than $250 million in profit and $500 million in lost revenue, according to the company, who claimed they would save $300 million in marketing fees and royalty payments to...

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October 27, 2022
Latest News

Adidas Plans to Sell Kanye West’s Yeezy Designs Without the Name

[ad_1] Following news that Adidas terminated its partnership with Kanye West, the shoe giant reportedly still plans to continue to sell the controversial rapper's designs without the name on them.On Tuesday (Oct. 25), Bloomberg published a report revealing Adidas will be selling previously collaborated products with Ye solely under the Adidas brand starting in 2023, according to analysts at Morgan Stanley and RBC Capital Markets.News of Adidas' plans to erase Kanye's trademark from upcoming releases came just hours after Adidas revealed the end of their relationship with Ye in a statement released on their website."Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable,...

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October 26, 2022
Latest News

Adidas Terminates Kanye West Partnership

[ad_1] Kanye West's run with Adidas is over.Following a month full of anti-Semitic rhetoric from Kanye West, the Three Stripes brand announced the move to cut ties with the controversial rapper on Tuesday (Oct. 25), effective immediately. The decision was revealed via statement on Adidas' website."Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness," the statement reads. "After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments...

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