Adidas’ breakup with Ye, formerly known as Kanye West, is a pricey one. The company warned Thursday that it’s expected to lose $1.3 billion in revenue this year because it’s unable to sell the designer’s Yeezy clothing and shoes. Adidas ended its nine-year partnership with the rapper last October because of his antisemitic remarks. In a statement, Adidas said its financial guidance for 2023 “accounts for the significant adverse impact from not selling the existing stock.
Adidas said it also expects “one-off costs” of $213 million because of a “strategic review” the company is currently undergoing. “The numbers speak for themselves. We are currently not performing the way we should,” said Adidas CEO Bjørn Gulden in a statement. He was named the company’s top leader in January and joined from rival Puma.
If you're Told to do something, you have to do it.
Worth.every.penny.
Morals money
Nike China child slave labor
Ofc it is... Thats what they get for pretending to be some type of woke company all of a sudden
As expected
They should not drop him
Thk u Adidas for not making money 1
That what happens when you move off emotion
But ya know why right
They deserve it ! I think they hastily caved into pro Israel pressure !
Your ok.your saved.I will buy an Adidas shirt😂👀
Shot themselves in the foot have they?
Then strap on a pair and don't drop him.
Sold the shoe's as given back to All community's we are 1 Among equal. $500 million donation. $500 profit. ❤️🌍
Ugly shoes.
Is this how woke cancel culture costing investor's money?
Good, let them sink. Go woke, go broke
Bummer……
Literally a brokenness stint for the wokeness action
His foolish actions cost everyone. No matter who you are, actions have consequences.
Cancelling for antisemitism? What’s antisemitism? Even a sneeze is called antisemitism these days. Wtf
I think he'll be alright....people are forgiving and love a comeback story
I doubt it.
Play WOKE games, Win WOKE prizes !
Kids tales... another marketing strategy...!!! 🤥🤥🤥
Um...peanuts. Worth it.4
FFS! It’s not like they couldn’t find another celebrity or few to fill the gap. If they lose $$, their marketing & business units are crap.
Guess y'all shouldn't drop KanyeWest then 🤔
That’s the best news of the day
Am I supposed to feel bad for a company whose founders willingly joined the Nazi party and supplied shoes for its’ army. Let’s not forget the wife of one who lied to allied forces so they wouldn’t destroy the factory! The Schadenfreude is overwhelming! 💯
Aba made
nike will pick it up, they are soul less, give kids in China🇨🇳 more work
LOL but I thought KANYE was the one losing? 😆😆😆😆
How does the tax right off work in this case?
This just in.... CNN is Trash SinkingCNN
A tiny price to get rid of pure scum
How many times are you going to repost this same tired story? Did you fire to many employees or did the 3 letter agencies stop telling you what to say?
So why dropping him ? Stuffs like this are uncalled for and must critically be looking at it very well.
justinsoliman
Cnn is a bad choice
cnn
Go woke, become broke!
Karma is a YEdidas
Just sell them and be done with it/Kanye Make bank probably
Good.
😂
The shoe is uaf
Dump move go woke go broke
Cancel culture is good for everyone
Not dropping that mentally ill bigot/racist would cost them much more...
go woke go broke, 🤡
Those shoes are as ugly as ConYays soul.
Wokism...
Give him another chance
Cutting into shareholder investments to serve the Woke! 🤔 Up to 50% of the company’s corporate division in the canada have been let go. 🤣 .
How much did CNN and their parent company lose for going for going woke and so far to the left? No one watches them anymore….
Go woke Go broke
Adidas is trash, hope they go bankrupt
Kanye saved addidas though it was becoming like Rebook..in the shows department..they could not keep KoBe and Nike is miles ahead
Good for nikestore and ye
Yeah. So?
We lost a billion dollars too and almost a couple million ppl you guys know anything about that ? so you expect us to feel bad for you or something we don't how about we meet in the middle you admit to your war crimes and we buy yr products agian sounds fair to me
If dropping he could cost that much then that makes me wonder how much it would cost to keep him.🙌
Suckerrsssss
$213 million for a strategic review? Seriously? Sell your stock in Adidas today.
So they drop Kanye, then want to sue him for their losses due to their own actions? Like someone breaking in your house, you shoot them, and they sue you. The world has become dum AF.
Bull...their arbitrary inflation of these numbers proves they are trying to recoup the collateral damage. Looks like Adidas needs to eat it on the chin just like Kanye did.
a minuscule price to pay to distance yourself from an antisemite !!!!
Go ahead and bow down to the Liberals. Drop off the face of the Earth, like Nike.
Yeah! Shouldn't have drop him, it was a legal contract you still got to pay him.... Now AA not going to buy your products.. You lose..
Hire rihanna … sent the right off the cliff lol
Here's a 'thought'...NO Marketer....but REPLACE HIM! ..Go Female eg Rihanna...or Billie Eilish..... FHS He's actually not 'that unique'...
what a shame. Maybe don't pick jackholes to anchor your brand next time adidas
And?
Too bad, is worth it to keep him off their books
Boohoo
Collect it back from Kanye! Make him pay. Might not get all but will recoup some
Again with this article? How many times are you going to post this?
Go woke go broke
'afraid sales will drop, so they paid us to spam this trash until your eyes bleed, or you buy our shoes!' Or you could go to a dem state and get them free as long as the mall cop can't catch you, like most of the rest are doing. Am I racist if I mention the skin color here?
They can afford it. Sign someone better
Go woke go broke
checks over stripes, that’s what I like 🎵
Well now.... It looks like the shoe is on the other foot.
Too f*cking bad adidas. Learn a lesson
So, drop him anyways. Those shoes was ugly asf, he has no taste whatsoever.
What would it have cost them to stand by him as a brand? They saved billions in the long run.
Adidas founders Adi and Rudi Dassler were members of the Nazi party—joining in 1933, the same year Adolf Hitler became Chancellor.
If someone not Black had said what he had said it would have been ignored & not seen as antisemitic. We know this because some politician said something really antisemitic recently & it was ignored.
Figures with those ugly shoes. Dude has serious bad taste.
Ahhh Yassss in my lildurk voice yall some clown for doing that anyways
Ok, who actually (intentionally) invested in Adidas.
Are we supposed to feel guilty about this or something? They banked on a guy who confidently declared that slavery was a choice and had hadn’t had a “stable” year in a decade plus…
Getting rid of an anti-Semitic a$$hole: priceless
Just pump out more Real Madrid shirts
Oh no
Ugly shoes
Jus drop the remaining inventory adidasUS 🤷🏽♀️
Sometimes even rich corporations have to pay for their mistakes. That guy had red flags all over him well before the current issues became apparent.
😂
I warned you guys. Adidas legally had to keep selling these. They had a contract with Kanye. They broke it. That’s their fault.
Checks over stripes
You could say they shot themselves in the… FOOT!
The pride of white monopoly capital won't allow them to reconsider
How much did CNN+ lose?
So switch to someone else.
Holy cow, I had no idea how big the sneaker market was in the mental asylum community!
Send clothing to those in need. Earthquakes, wildfires, war, etc they don't care about logo they want to be warm clothed and fed. Or use the clothes for homeless. Sue him recoup the royalties aa I bet he broke contract with his words.... it about 4 months worth
Adidas was started by Nazis remember that came out during the Ye stuff. Why on earth would we support companies started by Nazis it’s crazy how many big name companies sided with the Nazis and were allowed to keep going after committing war crimes.
Worth it
I don’t care that the Gap eventually dropped the Yeezy line, after they were promoting his sweatshirts, at a discount, after West went full-on proud anti-Semite. That they went to recover whatever they could has made me stop buying from them (and I used to be loyal to Gap/BR).
Get woke…
Remember when the Kenyan trash sat in Reverend Writes racist church of jew hate for years and not a leftist on the planet cared?
Check your neighborhood Big Lots or Goodwill in a couple months
This is at least the fourth time you have posted this. Dissolve the company. you clearly aren’t relevant.
Go woke, go broke.
When will they lower the price of those sneakers, so I can purchase a few of them in time for Summer?
This is good. What is required is not to buy anything from Adidas, because it simply stole Kanye’s effort. If it weren’t for Kanye, their sales would have collapsed a long time ago. This indicates the weight of Kanye, a creative person. The eye does not rise above the eyebrow.
Ironically this is what happens when you don't invest in recyclable clothing.
Lol and a lot of folks jobs
Go woke go broke.
And they do not care one bit, they will make it somewhere else
Good.
More important things than money
Isn’t that what his deal was worth? So you lost nothing. You’re Even Steven. Move it along.
It makes no sense for them to not release the shoes at this point
I'm sure Adidas is not the only company losing money from dropping Ye.
oh no the 28 billion dollar company will only be worth 27 billion dollars how tragic
Could? I thought they already dropped him😂 they were bluffing huh 🤔 ?
Fag shoe business ?
They should contact me for their dropping goods
I don’t like Kanye west, I think he’s a fool with 0 talent.. and I normally wear Fila, kappa or Nike anyway, last time I had adidas trainers they only lasted a month before they split and fell apart, so it would probably be better to drop him and put more quality in…
well that is what happens, trump literal is putting you cnn out of business so i totally get it
I don't care how much you lose I don't care how much you win
Who cares about couple of lost bucks and Kanye?!!!? There are more important things happening in the world right now ⚠️
Yeah i dont know why any brand would want to be associated with KW. I guess he may be more known in some countries but the less of him the better for all.
This is old news.
Interested to see what they do, is it the bottom dollar or the cultural impact.?
Go woke go broke as they say
Who funded and made clothes for the nazis?
Get woke go broke
You did the right thing.
Good.
Why does it surprise anyone that corporations have no moral backbone and only exist to exploit and make profit for the wealthy. If you still support them after this consider the type of person you are.
Keeping Kanye West would cost more
The Jewish community can bond together and help, problems solved
Yeah and Nike lost $4 billion when they made Kaepernick the face of their campaign, they’ll be fine lmao
🤣🤣🤣🤣🔥
worth it.
Yeezy shoes stock contribution hardly reach 4% annually, Adidas reputation more important than the Yeezy, specially when adidas concerns focusing on Europe fans more US market.
Hey adidas when they give away the t-shirts of the losing Super Bowl team to charities, give a pair of these awful looking shoes to go with each the t-shirt. Taxwriteoff. Done.
Go woke. Go broke.
🤣🤣🤣🤣 Ye was RIGHT!
People need to READ the article. Losses are from a ton of dead stock. “In a statement Adidas said its financial guidance for 2023 accounts for the significant adverse impact from not selling the existing stock if the company can’t “repurpose” any of the remaining Ye clothing.”
Wow!
Good for them, they are also racists
MAGAs like Kanye now because he loves Hitler.
They do not know. Many people were not going to buy them after Kanye West terrible behavior so the original expectations for $1 billion in sales does not apply.
CNN reporting on other's failures.
It saves a million broke people from looking silly for clout, get it right
I thought you already dropped him
Let it go adidas. Kanye’s shoes were truly ugliest fad shoe ever. 🥴👎
It's ok. Planet Earth will be fine.
SuckShit
RUNDMC☘️
Capitalism over ethics, amiright?
Guess Adidas is siding money over morals...
Heard 6 million pairs were incinerated
Uhhhh I'm done with Adidas as long as Kanye is a spokesperson
Wtf is this? Ugly Uglier Ugliest. Someone needs to pay me a lot to wear it. nonono
those are ugly shoes
Well considering the millions of bodies on ya I don't think he was the worst thing that ever happened to you I mean if he was white you prob be making uniforms agian ohh and shoes
when will the stock hits the bargain bin I could use a new pair of sneakers
And keeping Kanye could cost it one of its stripes.
That's what you call a dumb business. Those shoes are dumb and over priced. Just make something way cooler and affordable.
The shoe designs are great but the main selling point is that they were Kanye’s Yeezy brand, not just any old Adidas shoes
Go woke, go broke. I never understood why any company would ever take a political side. It’s bad for business, no matter what side you are on.
Don't cave to the mob adidas . Remember how the 'mob' tried to cancel GoyaFoods . Be strong!
They weren’t smart enough to forecast this before they dropped him?
Let adidas pick it’s hustle! Do you want Kanye or not?
I still maintain that Kanye is who he thinks he is!!!!!
Hopefully more
so, how much would be gained by having him stay on and have people boycott your whoIe brand or just cut him Loose and Lose on just his stuff
Why do people buy tennis shoes from a rapper? Do rappers need improved foot comfort?
Companies need to stay neutral. Otherwise, people will not buy your products
They’re a global corporation that’s chump change to them
Where's the headline: BREAKING NEWS US BLEW UP NORD STREAM PIPELINES WITH HELP FROM NORWAY
Should we be sad!?
Bruh wasn’t NOBODY buying Adidas for Adidas. Kanye West made them
And I’m buying whatever Kanye drops . Go woke go broke
eventually no one will be worthy of anything. chasing perfection from individuals is a foolish game and will cost lots of money
adidas still remember that adi stands for ADOLF 卐
Oh no a billion dollar company is gonna lose some pocket change. How will they ever get by in life.
Fuck that keep your dignity! Don’t be sell outs like him!
Yeah but NOT dropping Kanye could lose them $22B in sales. Shame for them to be supporting a visionary creator only for him to turn full fascist.
How are they going to pay all those black people they promised to hire?
That’s cheap to get the stench of West off
Go woke go broke
Boo effing hoo.
Adidas cutting ties with Kanye West was a bad move. Clearly they needed Kanye to sell the shoes. I hope that beyoncé cuts ties with them as well. Respecttheculture
It's their choice
How many CNN anchors have been dropped? 🤷♂️ No one cares.
I mean keep him make a billion drop him lose a billion they made their choice it is what it is
Soooo bad move by adidas it seems
...and they didn't realize this when they did it?
So their blm and antifa support wasn't reflective in their buyers sales?
only 1/28th of their worth. Think they could make it fine without him....
Adidas falls either way!
They bet the house on Kanye? 🤣
When KFC dropped Hillary Clinton Special for $6.66 plus Tax. 2 left wings Two large thighs, Two tiny breasts plus Diet Pepsi KFC sales dropped big time.
Somehow I think they won't go bankrupt
Failing to drop Kanye would also cost their reputation
Excellent
bill the jews for that
Lol
Cause he’s the greatest…..no matter what the _______ people try to do
You could say… they shot themselves in the foot!
Money over morals
Oh no. Anyway.
Surreal. Pointless fake plastic charachter with no content,no singing voice doing cover rock concerts.Who in the world would purchase anything marketed by highly problematic,and not in any good way, Kanye West brand and why? No looks, quality,no message,all plastic wife and kids,
How this brand of shoes sucks anyway.
But save Heaps of Embarrassment!
That's the price for not being associated with a trumpist ape.
🤣🤣🤣🤣🤣🤣
Dear Adidas: So maybe not a good idea to build your company’s marketing and reputation around one unstable anti-Semitic unprofessional narcissistic person?
Give me some free pairs adidas plz
CNN knows that feeling 🤣
Try me.
It’s worth -
Dont drop him then...
Probably not
They did not zee that coming
🤣🤣🤣🤣🤣Hope the break is clean! Wouldn't want them to be able to jump back on his bandwagon when he starts to trend upwards again! Wonder how folks that paid $300 for a pair are gonna feel seeing those same shoes for 30 bucks! 🤷🏿♂️🫡🤣🤣🤣🤣🤣
Adidas have been around long before KW and will continue to be around long after!! Keeping him will cost far more than $1 billion! You do not need him.
They’ll lose a lot more if they keep him.
That’s the chance you take when you jump on a bandwagon for profits!
Would there not be serious tax deductions if the clothing and footwear were donated to earthquake relief victims in Turkey and Syria?
And kept deal with Balenciaga
Bankrupt all the Celebrity & Elite Endorsed products from WOKE Corporations.
You reap what you sow. Go woke? Yup.
They'll be just fine.
They can afford it
Tax write off?
Keeping him would have cost more
Nobody wants fake Yeezy's
That's a small price to pay.
That’s good. It should be penalized for hurting others jusy for expressing an opinion. He’s not god he’s is a human being full of flaws.
They’ll be fine
I’ve never heard a song from that guy! And I will never do. I’m not interested, he seems to be a very unstable person.
Lmfao
I'd rather say the decision to do business with him was a very pricey one, but of course, I am no expert...
Luckily they have plenty of child labor to help offset costs... what a stupid time to be alive.
Corporate tax right off🤔
they should've known he is the brand not the shoe
Good. After all it’s business
🤣🤣
Well, vet more carefully next time
इंडिया ताज़ा खबर, इंडिया मुख्य बातें
Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।
स्रोत: MarketWatch - 🏆 3. / 97 और पढो »