It had a book value of $500m and could, potentially, be written off entirely or re-purposed.It also revealed it is having to pay its former chief executive nearly €16m after he stepped down from the business prematurely in the wake of the partnership's end and other troubles including a perceived reliance on China sales.
Kasper Rorsted left the German sportswear giant last November - almost four years before the end of his contract. Chief executive Bjorn Gulden, who took the reins at the start of 2023, pledged to rebuild the bruised brand but admitted Adidas faced a"transition" year with the value of its total inventories standing at $600m, up by almost half on the same period last year.Please use Chrome browser for a more accessible video playerFull year sales for 2022 rose by 6% but Chloe Collins, head of apparel at data firm GlobalData, pointed out that they remained 4.
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