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Tag: Yeezy

Addidas cuts expected loss as Yeezy demands soar
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Addidas cuts expected loss as Yeezy demands soar

Sportswear giant, Adidas, has projected a minor dip in 2023 sales, outperforming earlier forecasts. The brand attributed this positive shift to the release of its coveted Yeezy shoes, which not only invigorated the market but also curtailed anticipated losses for the year. This upgraded outlook comes on the heels of a remarkable 40% surge in […]

Adidas secures $565m worth of orders for unsold Yeezy shoes
Business

Adidas secures $565m worth of orders for unsold Yeezy shoes

Adidas has received orders for 4 million pairs of unsold Yeezy sneakers totaling more than 508 million euros, exceeding the company’s “most optimistic forecast.” According to the Financial Times, the initial round of orders might spare the German sportswear company from having to take a significant writedown on its remaining stock. Following a string of antisemitic remarks […]

An Adidas Yenzy shoe brand
Business

Adidas to cut dividends over Kanye West split

The German clothing brand Adidas said on Wednesday that it planned to cut its 2022 dividend to 0.70 euros which is equivalent to $0.7374 per share, owing to the losses from its partnership break with the popular American rapper, Kanye West. According to Reuters, Adidas said its executive and supervisory boards plan to recommend the […]

An Adidas Yenzy shoe brand
Business

Adidas may lose $1.3 bn in 2023

Adidas may lose about $1.3 billion in 2023 if they are not able to sell their current Yeezy stock. Yeezy is a fashion collaboration between the American rapper, designer, and entrepreneur, Kanye West and the German sportswear brand Adidas. According to Reuters, the Adidas stated that it was deciding what to do with the inventory […]