KANYE WEST TERMINATION COST ADIDAS $1.3 BILLION IN 2023 SALES REVENUE

theguardian.com
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According to reports, adidas lost over $1.3 billion dollars in sales in 2023 as a result of terminating Kanye West, and the sportswear business may lose much more money during the year.

Ye, a controversial Chicago rapper, was forced to cut relations with adidas in 2022 after launching a string of antisemitic outbursts. Ye has been subjected to relentless criticism for his repeated antisemitic remarks for months, and despite the backlash and financial hardship he has experienced, he has persisted in his devotion to prejudiced German mass murderer Hitler.

Ye even demanded the Jews to “let it go” and forgive Hitler in his most recent interview with Proud Boys founder Gavin McInnes in Los Angeles.

Kanye is being specifically blamed by adidas for the company’s projected loss of $1.3 billion in 2023. A statement received by TMZ claims that the company owns a large number of Yeezy items that it is unable to sell. In November, adidas had previously stated that it intended to repurpose the designs under a different brand.

According to the statement, adidas might lose an extra $534 million if it is unable to find new uses for the Yeezy clothing. CEO Bjrn Gulden said that “the statistics speak for themselves.”

Gulden noted that the corporation would go through a transitional year in 2023 since “we are currently not performing the way we should.” According to reports, Kanye’s contract with adidas has a provision that states the Chicago rapper would get a smaller payment if the Yeezy clothing line was sold without his endorsement. However, adidas told TMZ they had no intention of paying Kanye another dime.

Ye apologized for his “hurtful” remarks during a conversation with Piers Morgan in October, but he has since kept up his admiration for the Nazis and his attacks on Jews. Ye was photographed shopping at Balenciaga in January while sporting a T-shirt with the German Reich symbol on it.