Close Menu

    Get the latest news around the globe

    Editor's Pick

    Visa, Mastercard agree to $30bn settlement on credit card fees

    Bank of England set for potential rate cut amid uncertainty

    Walking 4,000 steps a day can lower early death risk; Study

    Facebook X (Twitter) Instagram
    Facebook X (Twitter) LinkedIn Instagram
    Britain HeraldBritain Herald
    Subscribe
    • Home
    • World Roundup
    • Business
    • Tech World
    • Entertainment & Events
    • Curious
    • More…
      • Spotlight
      • Knowledge
      • Lifestyle
      • Awareness
      • Women World
      • Sports
      • Travel
      • Notable
      • Contact Us
    Britain HeraldBritain Herald
    Home » Adidas admits negative impact on Yeezy sales after cutting ties with Kanye West
    Home News

    Adidas admits negative impact on Yeezy sales after cutting ties with Kanye West

    According to the company, the termination of its partnership with West resulted in a $472 million decrease in sales during the first quarter of this year.
    News DeskBy News DeskMay 5, 2023
    Facebook Twitter LinkedIn WhatsApp
    Kanye West
    Mr. Kanye West | Image: Wikimedia Commons

    United States: Adidas claims that its separation from Mr. Kanye West is negatively affecting its business, with sales in North America suffering as a result.

    Last year, the renowned designer and rapper, also known as Mr. Ye, made anti-Semitic remarks on social media, which resulted in the sportswear giant severing its connections with him. The Yeezy brand, designed by West, included trainers that were sold by the sportswear giant Adidas. According to the company, the termination of its partnership with West resulted in a $472 million decrease in sales during the first quarter of this year.

    In general, the company’s overall revenue experienced a decline of 1 percent. Notwithstanding the decrease, the results were more favourable than what analysts had anticipated. Adidas stated that if the influence of the Yeezy business was disregarded, sales had actually increased by 9 percent.

    Adidas logo
    Image: Wikimedia Commons

    According to Adidas, the company was capitalizing on the current trend for “terrace” style sneakers and was observing “remarkable demand” for its Samba, Gazelle, and Campus collections. The “terrace” style sneakers were initially favoured by football enthusiasts in the 1980s when supporters first adopted luxury fashion brands like Fila and Sergio Tacchini.

    Although Adidas stated that it had limited supplies of such sneakers at the beginning of the year, the company intends to raise production in the upcoming months. In October of last year, the company terminated its collaboration with West after the rapper made anti-Semitic remarks. The firm clarified at the time that it does not condone hate speech of any kind, including antisemitism.

    Investors are claiming that Adidas neglected to restrict financial losses and take preventive measures to decrease their vulnerability. In spite of the decline in total sales for the first quarter of the year, Adidas announced an operating profit of $70.92 million, surpassing what was anticipated. The high demand for Adidas’ football, running, and tennis sneakers contributed to a 1 percent growth in revenue for footwear.

    WORLD ROUNDUP: Experimental Alzheimer’s drug slows cognitive decline in late-stage trial; Eli Lilly

    STAR OF SECTOR 2025
    Adidas Adidas And Kanye West Adidas Loss Adidas Shareholders Adidas Shareholders Losses Kanye West Kanye West Split Yeezy Brand Yeezy Brand Loss Yeezy Brand Without Kanye West
    Share. Facebook Twitter LinkedIn WhatsApp
    Avatar
    News Desk

    The news/article published above has been sourced, compiled, and corroborated by a member of the Britain Herald News Desk Team. If you have any queries or complaints about the published material, please get in touch with us at BritainHerald@Gmail.Com

    Newly Updated

    Trump administration plans social media vetting for US student visas

    May 28, 2025

    Texas Governor signs new Online Child Safety Bill sparking debate

    May 28, 2025

    Global heat record likely by 2029; WMO warns of rising climate risks

    May 28, 2025
    STAR OF SECTOR 2025

    Business

    Volvo cars to cut 3,000 jobs in major restructuring effort

    Business May 27, 2025

    Sweden: Volvo Cars has announced strategies to cut approximately 3,000 jobs, primarily targeting office-based roles…

    Trump demands US-made iPhones; Warns of 25% tariff

    May 24, 2025

    Nike to raise prices on select items citing seasonal planning

    May 22, 2025

    CATL shares jump after Hong Kong stock market debut

    May 20, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn
    • Instagram

    Curious

    Massive ice calving at Perito Moreno Glacier sparks concern

    May 16, 2025

    Glowing Spiral appears in night sky; Linked to SpaceX Falcon 9 Rocket

    March 25, 2025

    Once dubbed ‘Ugliest’; Blobfish triumphs as NZ ‘Fish of the Year’

    March 19, 2025

    Giant Iceberg A23a runs aground near South Georgia; Easing wildlife fears

    March 5, 2025

    Get the latest news around the globe

    Knowledge

    Clownfish shrinks to survive marine heatwaves, study reveals

    Knowledge May 22, 2025

    England: Clownfish, famously known from the film Finding Nemo, are shrinking in size to survive…

    Kashmir conflict: History of disputes, wars, and unresolved tensions

    May 9, 2025

    Snakebite survivor’s blood sparks universal antivenom discovery

    May 3, 2025

    ESA’s Biomass satellite set for launch to map forest carbon

    April 29, 2025
    18-EA-387-TryEngineeringSummerInst_BannerAd_300x250_Robot
    About Us
    About Us

    Britain Herald is a global news brand that plays a significant role in educating and informing the masses with informative content, the latest updates, and current affairs across the World.

    Operated and Managed by WellMade Network, the portal is a sister concern of GCC Business News and Emirati Times. For inquiries about Media Partnerships, Investment and other opportunities in line with our Editorial Policy, please contact us at;

    Email Us: News@BritainHerald.com
    Whatsapp: +971 5060 12456

    We Have

    Trump administration plans social media vetting for US student visas

    May 28, 2025

    Texas Governor signs new Online Child Safety Bill sparking debate

    May 28, 2025

    Global heat record likely by 2029; WMO warns of rising climate risks

    May 28, 2025

    SpaceX Starship breaks up over Indian Ocean after losing control

    May 28, 2025
    Facebook X (Twitter) LinkedIn Instagram
    • Home
    • Business
    • Tech World
    • Awareness
    • Contact Us
    Privacy & Cookies Policy | Terms & Conditions
    © 2002 BritainHerald.com, An Initiative by WellMade Network

    Type above and press Enter to search. Press Esc to cancel.