Adidas Suffers Huge Blow as Profit Plummets 83% Following Split with Yeezy
Posted: Fri Mar 10, 2023 6:01 am
Adidas Suffers Huge Blow as Profit Plummets 83% Following Split with Yeezy
https://www.youtube.com/watch?v=wwopu6e-1Kg
WION on Youtube shows the story.
Adidas cut ties with Yeezy in October 2022 after founder Ye, formerly known as Kanye West, posted what the company viewed to be anti-Semitic comments on social media. On 24 February 2023, the two entities reportedly reached a new agreement to sell leftover Yeezy stock worth $500m (£417m).
The sportwear giant's full-year operating profits for the 12 months ended 31 December 2022 plummeted from just under €2bn in (£1.8bn) in 2021 to €669m (£596m) in 2022, despite sales increasing by 6% to €22.5bn (£20bn) year on year.
https://www.youtube.com/watch?v=wwopu6e-1Kg
WION on Youtube shows the story.
Adidas cut ties with Yeezy in October 2022 after founder Ye, formerly known as Kanye West, posted what the company viewed to be anti-Semitic comments on social media. On 24 February 2023, the two entities reportedly reached a new agreement to sell leftover Yeezy stock worth $500m (£417m).
The sportwear giant's full-year operating profits for the 12 months ended 31 December 2022 plummeted from just under €2bn in (£1.8bn) in 2021 to €669m (£596m) in 2022, despite sales increasing by 6% to €22.5bn (£20bn) year on year.