Adidas To Lose Millions From  Kanye West's Termination


 The freshly installed Adidas boss Bjørn Gulden is unsure what to do with the Yeezy stock that remains with the organization. 

Kanye West's footwear line 'Yeezy' has been a massive money-maker for the Adidas brand.

However, Adidas soon cut ties with the rapper/entrepreneur after he went on several anti-Semitic rants.

Yeezy brought in a revenue of 1.8 billion for Adidas, accounting for 7% of its total revenue in 2022.

 Getting rid of  Yeezy from their portfolio could cost them €500m (£443m) in losses. 

The company expects to return to profit in 2024. In the meantime, Adidas is looking to operate under €700m loss in 2023.

Kanye West came under fire after sporting a  "White Lives Matter" T-shirt at Paris Fashion Week. The rapper then took to social media to spout more hateful sentiments.

Adidas immediately distanced itself from Kanye West, with enterprises like GAP and Balenciaga following suit.

Kanye West was also fired by his long-time agency Creative Artists Agency.

On February 2, 2023, Kanye's former attorneys at Greenberg Traurig notified the rapper they were no longer his legal representative.

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