
Adidas is still figuring out what to do with $1.3 billion worth of unsold Yeezys
Nearly seven months on from Adidas parting ways with rapper Kanye West, and the sportswear brand reportedly still has $1.3 billion of unsold Yeezy stock in its warehouses. The decision from Adidas to split from West - otherwise known as Ye - came back in October last year came after the 45-year-old made antisemitic remarks both in interviews and online. But now, Adidas has to decide what to do with the remaining stock of the popular shoe as the company attempts to turn its fortune around after it abruptly ended its partnership with West and his Yeezy brand, with 400 million euros ($441 million) in lost sales at the start of the year. Sign up to our free Indy100 weekly newsletter Though Adidas is "getting closer and closer to making a decision" on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said, as per Associated Press. He became in charge back in January this year, three months after Adidas terminated it's partnership with Ye. However, a decision has not yet been reached due to "so many interested parties," he added. Gulden did not confirm whether the option to destroy the shoes had been ruled out but noted that this is something it is the company is "trying to avoid." Meanwhile other options have their own downsides, since selling the shoes would mean Ye would need to be paid royalties, removing brand identification would be dishonest. Giving the shoes away for free sounds like a nice idea in theory but this could cause them to be resold at a higher market price. Gulden is also remaining tight-lipped on the exact quantity of stock that is left since he believes if consumer are aware of this number it "could have an impact on demand," as per AP. The CEO admitted losing Yeezy is "of course hurting us" and if Adidas decides not to sell the remaining shoes, it could reduce earnings by 500 million euros this year. Net sales declined 1 per cent in the first quarter, to 5.27 billion euros, and would have risen per cent with the Yeezy line, the company said. As a whole, Gulden described 2023 as a "a year of transition" with "a better ’24 and a good ’25" as the German sportswear business continues without the Yeezy brand. Elsewhere, Adidas found itself being sued by investors last week who allege the company knew about Ye’s offensive remarks and harmful behaviour years before the termination and failed to take precautionary measures to limit financial losses. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-05-10 02:25

Khloe Kardashian posts cryptic messages after Kylie Jenner spotted with Jordyn Woods
Khloe Kardashian turned to Instagram with a series of poignant quotes following Kylie Jenner and Jordyn Woods' dinner catch-up. On Sunday (16 July), the two former best friends were spotted leaving a restaurant in Los Angeles alongside two security men. To recap, Woods was outed back in 2019 for kissing Kardashian's baby father and serial cheat, Tristan Thompson. Woods admitted to kissing him at a party, but shut down any rumours there was any form of romance between the pair. Shortly after paparazzi footage of Jenner and Woods circulated online, Kardashian – who is known to post frequent quotes on Instagram – took to her Stories with three more. One read: "Never blame anyone in your life. The good people give you happiness. The bad people give you experience. The worst people give you a lesson..." "The best people give you memories". Sign up for our free Indy100 weekly newsletter Her second Instagram Story upload said: "It takes grace to remain kind in cruel situations." Meanwhile, the third showed a quote by Doe Zantamata: "It's easy to judge. It's more difficult to understand. Understanding requires compassion, patience and a willingness to believe that good hearts sometimes choose poor methods... "Through judging, we separate. Through understanding, we grow". Following the reunion, a source told People their friendship was on the mend when Woods reached out to Jenner. "Jordyn reached out to Kylie to apologise for how everything went down and let her know that she loves her," the source allegedly said. A separate person close to them said weekend's encounter wasn't the first time they'd met up. It was the first time they had been spotted in public. The pair have allegedly been working on their friendship off-camera. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-07-18 16:45

What happened between Jay Baruchel and Jonah Hill? Tensions between actors on 'This Is the End' sets revealed in resurfaced video
During the filming of the apocalyptic comedy, their lack of rapport was apparent
2023-07-15 18:46

Why did Gary Mehigan really leave 'MasterChef Australia'? Former judge says show was 'far too professional'
Gary Mehigan served as a 'MasterChef Australia' judge for 11 years until his departure from the show in 2019
2023-07-09 20:19

Daisy Ridley cast in We Bury the Dead
Daisy Ridley is to star in 'We Bury the Dead', a survival thriller directed by Zak Hilditch.
2023-11-01 18:21

Netflix’s ‘McGregor Forever’: Conor McGregor teaches a chapter of ‘resilience’ from the book of champions
Conor McGregor said, 'I've never seen anyone work harder. He's like a mad scientist, constantly trying to fine-tune things'
2023-05-17 23:52

'Manifest' finds new streaming home at Netflix as NBC abandons supernatural drama series after Season 3
Netflix decided to revive NBC's 'Manifest' with a fourth and final season soon after the network canceled the show
2023-06-03 18:57

Bad Bunny and Kendall Jenner have become an instant 'mansplaining' meme
The celebrity world loves nothing more than when two famous good-looking people get together and create a new power couple. Whereas the internet loves nothing more when that famous couple becomes an instant meme. This year we've already had Taylor Swift and Matty Healy memes as well as Timothee Chalamet and Kylie Jenner memes. Well, now Kylie's sister, Kendall Jenner has been given the meme treatment thanks to her new squeeze, Puerta Rican rapper Bad Bunny. Sign up to our free Indy100 weekly newsletter The pair were at Game 6 of the Western Conference semifinals between the LA Lakers and the Golden State Warriors in Los Angeles on Friday and a moment between caught the internet's imagination. As Bad Bunny leaned over to tell Kendall something the model and reality TV star did her best to listen. Although it's unlikely we'll ever know what the two said to each other it turned into a new spin on the classic mansplaining meme. The meme soon found it's way onto wrestling Twitter with many making reference to Bad Bunny's recent match (yes, he actually wrestles now) against Damien Priest at WWE Backlash. Even more obscure takes were available. Incidentally, Bad Bunny, 29, has proven himself to be pretty adept at the wrestling game having impressed since his debut at WrestleMania 37 in 2021 and even competed in last year's Royal Rumble match. No word on if Kendall will soon be involved in WWE but time will tell. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-05-14 01:47

'I haven’t figured out how to perform with hearing loss!' Paul Simon is certain he's done with touring
Paul Simon has been suffering with hearing loss in his left ear over the last few years.
2023-07-23 15:25

Who is Moriah Mills? Adult film actress calls out NBA star Zion Williamson after his girlfriend revealed pregnancy
Moriah Mills disclosed her alleged romance with Zion Williamson after his girlfriend Ahkeema revealed that she was expecting a baby girl
2023-06-11 19:27

Why did Beyonce get chosen as the honorary mayor of Santa Clara? Singer will be given the position before Renaissance Tour performance
Beyonce is performing in the city on Wednesday, August 30, as part of her Renaissance Tour
2023-08-30 07:54

Maxx Morando: 2023 net worth and 3 unknown facts about Miley Cyrus' boyfriend
It seems that Miley Cyrus has moved on from her ex-husband, Liam Hemsworth, and found her new love
2023-05-19 14:45
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