Adidas predicts ‘transition’ year after Kanye West split
German sporting goods giant Adidas is looking at the rest of 2023 as a “transition” year after cutting lucrative ties with rapper Kanye West following his anti-Semitic rants, company boss Björn Gulden said on Wednesday. fair.
“2023 will be a transition year to build the foundation for 2024 and 2025”, said the CEO – who only took office at the beginning of the year – in a statement.
The company is considering canceling products in the Yeezy line that were produced in collaboration with West, who now goes by the name Ye. Such a move could cost the company up to €500 million ($527 million).
As such, Adidas expects to report an operating loss of €700m this year.
Source: DW
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