adidas zx 700 hd j core black bright red ftwr white | Ye and adidas Reach Apparent Agreement to Sell $500 Million of Yeezy Stock
Adidas Ultra Boost 4.
Update February 27, 2023: A gargantuan rumour has circled the internet over the weekend alleging that adidas have signed a new agreement with Ye. This new Gazelle will be in place to sell the remaining $500 Million worth of Yeezy stock. Once all the unsold product is gone, it seems the Gazelle will again be terminated. The Kanye and adidas camps are yet to officially confirm the rumour but stay locked to SF to keep updated.
Update February 10, 2023: adidas are yet to find their financial footing following the end of their Yeezy Gazelle. They’ve just detailed their across a number of areas, sharing they are still in the process of reviewing future options for the utilisation of Yeezy inventory, which has had a ‘significant adverse impact’ due to the unsold stock. If they continue to hold, it’s expected that revenues will be lowered by approximately €1.2 billion ($1.29 billion), and operating profits would take a €500 million ($537 million) hit this year. adidas also expects a one-off cost of up to €200 adidas zx 700 hd j core black bright red ftwr white, allocated towards a strategic and review.
adidas CEO Bjørn Gulden has stated, ‘The numbers speak for themselves. We are currently not performing the way we should. 2023 will be a year of transition to set the base to again be a growing and profitable and.’
Update February 2, 2023: Following last year’s announcement that Kanye West and adidas will part ways, the Yeezy Supply website adidas Marquee Boost Low in "Core Black".
Today, released a announcing the end of the brand’s collaboration with .
The statement outlines that the brand felt Kanye has violated adidas’ values of ‘diversity and inclusion, mutual respect and fairness.’ adidas also specified that the brand maintains ownership of YEEZY designs, ‘adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the Gazelle.’
Over the last several weeks, West’s media tirade has made headlines because of anti-semitic remarks and spreading misinformation about the murder of George Floyd. West used platforms like those of mainstream media figure Piers Morgan, as well as the hip-hop podcast, Drink Champs, to make the dangerous remarks throughout the last few weeks.
While on Drink Champs, West claimed, ‘I can say anti-Semitic things, and adidas can’t drop me.’
This resulted in public outcry, asking for adidas to cancel its relationship with West, including a specific petition on Change.org that received over 169,000 signatures at the time of writing this article. In the days following West’s remarks, publishers like Vogue distanced from West, while his creative agency and lawyer announced they were dropping him as a client.
While this is only the latest development in an ongoing situation between Kanye West, adidas, and GAP, you can check out our comprehensive report .
Read adidas’ statement in full below.
‘adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the and’s values of diversity and inclusion, mutual respect and fairness.
After a thorough review, the and has taken the decision to terminate the Gazelle with Ye immediately, end production of Yeezy branded products and negro all payments to Ye and his companies. adidas will negro the adidas Yeezy business with immediate effect.
This is expected to have a short-term negative impact of up to €250 million on the and’s net income in 2022, given the high seasonality of the fourth quarter.
adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the Gazelle. More information will be given as part of the and’s upcoming Q3 earnings announcement on November 9, 2022.’