A fall-out with Kanye West could cost Adidas €1.2bn (£1bn) forcing the company into a loss for the first time in 30 years
, it said not selling the goods could slash its revenue by around €1.2bn this year and cut profits by about €500m .
The result could be a worst-case scenario of a €700m euro loss this year, it warned. The profit alert went down badly with investors and its shares quickly fell more than 10 per cent. The company has also suffered from pandemic restrictions in China as well additional costs related to exiting from its businesses in Russia.
Yeezy shoes by Adidas. Adidas owns the patents and intellectual copyrights for the clothing and the distinctively styled shoes Adidas struggles with other major artistic collaborations including BeyoncéMany of the Ivy Park products, the latest collection of which was launched this week, are failing to sell despite the Grammy-winning artist’s involvement.
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Tainted Yeezy sneaker stock could push Adidas to first loss in 31 years\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
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Adidas Could Lose $750 Million on Unsold YeezysAdidas shares slumped after the German shoemaker warned of an operating loss of as much as €700 million ($752 million) in 2023 from the fallout of its dispute with rapper and former partner Ye
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