Topline German sportswear giant Adidas unveiled plans to slash its dividend on Wednesday, reiterating warnings the company could face its first annual loss in decades following the costly decision to ...
Tag: yeezy
Adidas’s New CEO Has a $1.3 Billion Pile of Unsold Yeezy Gear
(Bloomberg) — Adidas AG shares slumped after the German shoemaker warned that it’s sitting on a €1.2 billion ($1.3 billion) pile of unsold merchandise after terminating its lucrative branding de...
Adidas Shares Plummet As Losses Loom From Stockpile Of Unsold Yeezys Left After Kanye West Breakup
Topline Adidas shares plummeted Friday morning after the company said it could lose hundreds of millions of dollars this year from its failed partnership with rapper Kanye West, whose antisemitic rema...
Adidas shares tank after it issues warning over unsold Yeezy stock
“The numbers speak for themselves. We are currently not performing the way we should”, Adidas CEO Bjørn Gulden said in a press release. Jeremy Moeller / Contributor / Getty Images Adidas c...
Kanye West’s Yeezy Brand Owes $600,000 In Unpaid State Taxes, Records Show
Topline Kanye West’s brand Yeezy Apparel owes California more than $600,000 in unpaid tax debt, according to state lien notices sent to the company in recent years, as West’s financial troubles deepen...
His Clean-Energy Fund Was Up 206% In 2020. Then It Crashed. What Should We Expect Now?
Invesco stock-index owner Robert Wilder has bet on eco-friendly long shots for years, mostly winning. But it’s been a volatile ride. Robert Wilder, 62: author, lecturer, organic gardener, tree h...
How Did Kanye’s Antisemitic Rants Hurt His Sponsors?
| Getty Images Key Takeaways Ye, formerly Kanye West, stood by his antisemitic rants on social media. Many sponsors have severed ties with the musician as a result. Most notably, Adidas is stopping pr...
Adidas Bails From Yeezy. Why That Packs a Punch.
Times are tough at Adidas The German company has too much inventory and falling China sales. It’s slashed guidance, and earnings ran about half what Wall Street expected. The stock is down by more tha...
Foot Locker Suffers A One-Two Punch As It Cuts Ties With Yeezy And Nike Pulls Back
Ye Getty Images for BET Foot Locker was already reckoning with the difficult reality that Nike is pumping the breaks on its relationship and wants to sell significantly fewer shoes in its stores. Then...
Kanye West’s Yeezy Makes Investors Queasy
Investors are getting another reminder of the risk of teaming up with volatile influencers. X Following Adidas‘ (ADDYY) decision to cut ties with singer Kanye West, shares of the shoemaker are d...
Adidas Implements Hiring Freeze, But No Layoffs, Amid Split With Kanye
Illustration by Forbes; Photos by Jeremy Moeller/Getty Images; Jonathan Knowles/Getty Images Adidas has initiated a hiring freeze but suggested it does not plan to conduct layoffs after it cut ties ...
Gap Pulls Yeezy Products From Stores And Website After Kanye West’s Antisemitic Outbursts
Topline Gap said Tuesday it is removing products made in collaboration with Kanye West’s Yeezy brand from its stores and website in response to West’s recent antisemitic outbursts, as the fallout agai...
Adidas terminates Ye partnership, Gap removes Yeezy items over antisemitic remarks
Adidas on Tuesday ended its partnership with Ye, formerly known as Kanye West, after the musician made a series of offensive and antisemitic comments. Hours later, Gap and then Foot Locker said they w...
Sneaker Resellers See Dollar Signs In Kanye’s Split With Adidas
Jamel Toppin for Forbes While it’s become less lucrative to resell Kanye West’s Yeezy sneakers online in recent years, some sneakerheads are betting his split with Adidas will change that. By Lauren...
Adidas Stands To Lose $650 Million After Dropping Kanye’s Yeezy Line—‘Right Decision,’ Analyst Says
Topline Shares of German footwear and apparel giant Adidas slid Tuesday after it disclosed a nine-figure loss after breaking off its relationship with rapper Kanye West following his anti-Semitic tira...
Sever ties with Ye’s Yeezy
Kanye West arrives at the Vanity Fair Oscar Party on Feb. 9, 2020, in Beverly Hills, Calif. Evan Agostini | Invision | AP The Anti-Defamation League is urging Adidas to sever ties with Ye, calling out...
Adidas Reconsidering Kanye West’s Yeezy Line
Topline Adidas placed its lucrative partnership with rapper Kanye West “under review” amid recent controversial decisions by the rapper, Adidas said Thursday, putting West’s billionaire status in jeop...
Kanye West Wears ‘White Lives Matter’ Shirt At Yeezy Fashion Show
Topline Ye, also known as Kanye West, wore a shirt with “WHITE LIVES MATTER” written on it at his Yeezy SZN 9 fashion show in Paris on Monday, in yet another controversial move from the outspoken fash...
Light, Liberation, Fire And Freedom
Nick Knight, used with permission, courtesy of YZY. Nick Knight The following is based on my one-hour conversation with Ye. Light helps us see in the dark, but it can blind us too, just like how fire ...
Gap Can’t Afford To Let Kanye West And Yeezy Go
“This is not celebrity marketing. This is not a collaboration. This is a life mission,” Ye said. (AP … [+] Photo/Michael Wyke) Copyright 2019 The Associated Press. All rights reserved. Whe...
Kanye West’s Yeezy is cutting ties with Gap days after rapper says he’s leaving Corporate America—and opening up his own stores
After weeks of posts on social media revealing a strained relationship with Yeezy’s brand partners, Kanye West announced Thursday he would terminate a long-term contract with Gap Inc. The artist and e...
What’s Eating Kanye West? Leaving Adidas Would Drop The Volatile Superstar From Billionaire Status
Kanye “Ye” West has beefs with many: Gap, Adidas, and us here at Forbes, to name a few. Photo by Gotham/GC Images When Forbes determined that Kanye West had a net worth of $1 billion two y...
Kanye West Ye Yeezy terminates deal with Gap over alleged contract violations
Kanye West and daughter North West attends the “Yeezy Season 8” show as part of the Paris Fashion Week Womenswear Fall/Winter 2020/2021 on March 02, 2020 in Paris, France. Arnold Jerocki |...
Here’s Why Hollywood’s Biggest Names Are Building Ownership In Fintech Businesses Of The Future
LOS ANGELES, CA – JANUARY 09: Ashton Kutcher speaks onstage during WeWork Presents Second Annual … [+] Creator Global Finals at Microsoft Theater on January 9, 2019 in Los Angeles, Califor...
Kanye West Changed Music And Fashion. Are Sports Next?
NEW YORK, NY – AUGUST 28: Kanye West performs at the 2016 MTV Music Video Awards at Madison Square … [+] Gareden on August 28, 2016 in New York City. (Photo by John Shearer/Getty Images fo...
Adidas Cuts Ties With Kanye West After Anti-Semitic Comments
Topline Sportswear giant Adidas on Tuesday announced it has cut ties with rapper Kanye West, also known as Ye, over a series of offensive and anti-Semitic remarks, the latest company to distance itsel...