Adidas, the sportswear company, said it could lose around $1.3 billion dollars in revenue in 2023 if it is unable to sell all of its remaining Yeezy inventory. This is all the rapper Ye’s inventory, formerly known as Kanye West. Adidas’ profit would also fall by around $535 million dollars. Last October, Adidas cut ties with Ye, after his antisemitic comments on Social media. They called his comments “unacceptable, hateful and dangerous.” Adidas said that its Financial guidance for 2023 does reflect the impact of not selling the merch.
Source: https://www.usatoday.com/story/money/2023/02/10/adidas-yeezy-billion-dollar-loss/11230023002/
