Losing the Yeezy brand is 'of course hurting us,' the CEO of Adidas said.
Kanye West has lost endorsement deals as a result of anti-Semitic comments made by the music star, known to most now as Ye." LiveNOW from FOX's Josh Breslow spoke with Pamela Nadell, the director of the Jewish studies department at American University about the impact on the Jewish community., and boxes of his popular Yeezy shoes are still piled up in warehouses.
The fate of 1.2 billion euros worth of unsold Yeezy stock is weighing on the German sportswear company as it tries to engineer a turnaround from the loss of the lucrative sneaker line and theAdidas is "getting closer and closer to making a decision" on what do to with the sneakers and the "options are narrowing," new CEO Bjorn Gulden said in a conference call Friday after reporting 400 million euros in lost sales at the start of the year.
A fashion week guest seen wearing red adidas yeezy shoes, outside paul and joe during London Fashion Week September 2022 on September 17, 2022 in London, England. ending its relationship with Ye in October over his antisemitic and other offensive commentsGulden, who became CEO in January after the Ye split, declined to say if destroying the shoes had been ruled out but that the company was "trying to avoid that.
He has previously said other options have drawbacks: selling the sneakers would mean paying royalties to Ye, restitching them to remove the brand identification would be dishonest, and giving them away to people in need could lead to resale because of their high market value.
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Yeezy shoes still stuck in limbo after Adidas split with YeAdidas saw operating earnings dwindle in the first three months of the year as the German sportswear company’s breakup with the rapper formerly known as Kanye West and his popular Yeezy shoe brand cost it 400 million euros ($441 million) in lost sales.
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Yeezy shoes still stuck in limbo after Adidas split with YeAdidas still hasn't figured out what to do with $1.3 billion worth of high-end Yeezy sneakers after splitting with the rapper formerly known as Kanye West. The shoes have been sitting in warehouses for nearly seven months since the German sportswear company ended ties with Ye over his antisemitic and other offensive remarks. CEO Bjorn Gulden said Friday that Adidas is “getting closer and closer to making a decision.' He's declined to say if destroying the shoes had been ruled out, but the company is “trying to avoid that.” Adidas reported that the breakup cost it $441 million in lost sales at the start of the year.
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Yeezy shoes worth $1.3 billion still stuck in limbo after Adidas split with YeAdidas saw operating earnings dwindle by $441 million in the first three months of the year after its breakup with Ye and his Yeezy shoe brand.
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Yeezy Shoes Still Stuck in Limbo After Adidas Split With Kanye WestSeven months after Adidas' split with Kanye West, boxes of new Yeezy shoes are still piled up in warehouses.
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Adidas Still Hasn't Figure Out What to Do With All Those Yeezy ShoesThe company’s CEO said the “options are narrowing,” as it continues to sit on $1.3 billion in stock after severing ties with Kanye West last year
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Yeezy shoes still stuck in limbo after Adidas split with YeAdidas saw operating earnings dwindle in the first three months of the year as the company's breakup with the rapper formerly known as Kanye West and his popular Yeezy shoe brand cost it $441 million in lost sales.
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