The company's CEO said Wednesday that selling the popular line of shoes would mean paying royalties to Ye. He says destroying them could raise 'sustainability issues,” while restitching them for resale “is not very honest.”
Kanye West has lost endorsement deals as a result of anti-Semitic comments made by the music star, known to most now as Ye." LiveNOW from FOX's Josh Breslow spoke with Pamela Nadell, the director of the Jewish studies department at American University about the impact on the Jewish community.Adidas is still wrestling with how to dispose of 1.
Suggestions to give them away to those in need in places like earthquake-hit Syria or Turkey would mean the product would "come back again very quickly" due to its high market value, "so that's not really an option," Gulden said. The Ye breakup cost 600 million euros in lost sales in the last three months of 2022, helping drive the company to a net loss of 513 million euros. The decline, also attributed to higher supply costs and slumping revenue in China, contrasts with profit of 213 million euros in the fourth quarter of 2021.
He had heard from "gazillions of people that have opinions about this, and of course when you’re sitting on the inside, it looks a little bit different than it looks on the outside."allegations that Ye created a toxic work environmentThe CEO called 2023 "a transition year," saying "we can then start to build a profitable business again in 2024."
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