Adidas and Kanye West divorce: goodbye to a 1,500 million business | Luck

Adidas broke the alliance with an American musician Kanye West (Atlanta, 1977). The relationship blew up this Tuesday after the rapper’s anti-Semitic and racist remarks by the sports firm, which he described as unacceptable. The German sporting goods manufacturer said in a statement that it “does not tolerate anti-Semitism or any other form of hate speech.” And he points out that “Ye’s recent statements and actions (as the musician now calls himself) are unacceptable, hateful, and dangerous.”

In this sense, it allows him to suspend his line. adidas shoes It will take effect immediately and “given the strong seasonality of the fourth quarter, this is likely to have a short-term negative impact of up to €250 million on the company’s net profit in 2022”.

persistent provocations of the West, forbes He’s amassed a legacy of more than $2,000 million, they’ve gone pretty far: on the podcast Drink Champions Assures that police officer Derek Chauvin died of drug use and not suffocation, as confirmed by autopsy and court order, of African American George Floyd, who was killed by a police officer in Minneapolis (United States) in 2020. people.

During a fashion show in Paris, she wore a T-shirt with a message on it. White Lives Matter (White Lives Matter), in tune with white supremacist messages in response to the anti-racist movement Black Lives Matter. It has also caused a stir on social networks, and even Twitter (31.5 million followers) and Instagram (18.2 million loyalists) have started blocking their accounts due to user complaints before comments they see as anti-anti. Sami.

Adidas signing West in 2013 After getting it from Nikehas been investigating the West case since early October after several attempts. In vain, to settle the matter privately with Kim Kardashian’s ex-husband. His relationship with West has been deteriorating for a long time, and he blamed Adidas and the American fashion firm Gap, who broke up with him in September, in the posts he deleted from his Instagram account. In addition to accusing the sports firm of copying its designs for other brand products, it also accused it of not supporting promised commercial deals with the Yeezy clothing line. During these years, musician-stamped sneakers have been on the rise, selling for between $200 and $700.

Despite the musician’s outbursts, the business proved fruitful as well as closing the gap with Nike in the United States. Yeezy sells for $1,470 million (1,500 million euros) According to the data collected, it represents about 7% of the company’s total revenue annually. Bloomberg Telsey Advisory Group. Shares of Adidas slid 3.6% on Tuesday, lowering its forecast for this year due to declining sales in China and slowdown in other markets. It plans to present economic results for the third quarter of the year on November 9. In 2021, the company’s turnover was 21,234 million euros, 15.2% more than in 2020, and revenue of 2,158 million euros.

It was he who spoke this Tuesday his ex-wife assured him in a tweet He “hate speech is never okay or justifiable”. “I join the Jewish community and want the horrific violence and hate speech against them to end as soon as possible.” Kim Kardashian gave the image of the brand with many heritages to her 74 million followers on Twitter with this message. forbesHe broke an uncomfortable silence that could jeopardize their $1,200 million trade deal.

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