Adidas is claiming to be is a big financial bind since parting ways with Kanye West.
The mega brand made it known on Thursday, Feb.10 that it could potential be in the hole for $1.3 billion in revenue. Adidas has stated it can not sell the Yeezy shoes and apparel it still owns. Last October Adidas ended its nine year partnership with "Ye" following his anti-Semitic comments.
In a company statement, Adidas mentions its financial guidance for 2023 is accounting for the impact from not selling Yeezy's stock. If Adidas can not "repurpose" any of the remaining Ye clothing, the company said that could cost the them $534 million in operating profit; reported by CNN.
CEO Bjorn Gulden says, "We are currently not performing as we should"...2023 is a year of transition for the brand."
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