A fall-out with Kanye West could cost Adidas €1.2bn (£1bn) forcing the company into a loss for the first time in 30 years
, it said not selling the goods could slash its revenue by around €1.2bn this year and cut profits by about €500m .
The result could be a worst-case scenario of a €700m euro loss this year, it warned. The profit alert went down badly with investors and its shares quickly fell more than 10 per cent. The company has also suffered from pandemic restrictions in China as well additional costs related to exiting from its businesses in Russia.
Yeezy shoes by Adidas. Adidas owns the patents and intellectual copyrights for the clothing and the distinctively styled shoes Adidas struggles with other major artistic collaborations including BeyoncéMany of the Ivy Park products, the latest collection of which was launched this week, are failing to sell despite the Grammy-winning artist’s involvement.
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