Adidas Announces Sale of Yeezy Shoes and Charitable Donation Months After Split with Kanye West

Adidas CEO Bjorn Gulden announced on Thursday that the company plans to sell its unsold inventory of Yeezy shoes and donate the proceeds to charity. The decision comes after Adidas cut ties with rapper and designer Kanye West, formerly known as Ye, over his antisemitic remarks. Gulden stated that the company spent months considering options…

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Adidas Lost $441 Million in Past Year After Yeezy Breakup

Adidas’ decision to fire Kanye West last year still has a negative effect on the company’s bottom line.Today, Adidas CEO Bjrn Gulden released the company’s first-quarter financial results for 2023, noting a$441 million decline in year-over-year sales, primarily in North America, Greater China, and Europe,Middle East, and Africa (EMEA) regions. This decline is largely attributable…

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