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The Latest Breaking News from Bjorn Gulden

Kanye West and Adidas reach settlement over Yeezy partnership termination

Sportswear company ended partnership with musician’s Yeezy fashion line in 2022 after he was accused of making antisemitic remarks

The Independent UK

Kanye West and Adidas end ‘fight’ over decision to drop rapper over antisemitism

Adidas chief executive says dispute with rapper ‘belongs to the past’, and that the last of its Yeezy stock will be sold by the end of the year

The Guardian - AU

Mercedes F1 team set for clothing partner switch to Adidas

The Mercedes Formula 1 team is set to switch team clothing partner next year as it moves to Adidas, Autosport has learned.

Autosport

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Nike's Germany Kit Deal 'Inexplicable', Says Adidas CEO

The sum reportedly paid by Nike to lure the German football team away from its historic partner Adidas was "inexplicable", the CEO of the German sportswear giant Bjorn Gulden told AFP in an interview.

International Business Times

Adidas Reports 2023 Loss On Kanye Fallout

Adidas on Wednesday reported a loss in 2023 due to the fallout from the end of its tie-up with Kanye West, but the company insisted it was starting to turn its fortunes around.

International Business Times

Adidas Says It Will Continue To Sell Yeezy Products To Make Up For Financial Loss

Adidas has announced that, despite cutting ties with Kanye West for making antisemitic remarks, it will continue to sell its remaining stocks of Yeezy trainers.

International Business Times UK

Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye

Adidas says it may write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West

The Independent UK

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Adidas CEO suffers humiliating walk-back after fumbling Kanye West Yeezy controversy

Norwegian boss Bjørn Gulden, who had nothing to do with Adidas' clumsy response to West's anti-Semitism, has had to apologize for trivialising the scandal.

Fortune

Russia-Ukraine war: List of key events, day 527

These are the main developments as the Russian invasion of Ukraine enters its 527th day.

Al Jazeera

Adidas to start selling stockpile of Yeezy sneakers later this month

Adidas says it will begin selling its more than $1 billion worth of unsold Yeezy sneakers later this month

The Independent UK

Adidas finally has a plan for its stockpile of Yeezy shoes

One of the options Adidas considered was to destroy the Ye-designed shoes, but the company ultimately decided against it, the CEO said. Instead it will sell them and donate the proceeds to charity.

WEKU

Adidas plans to sell Yeezy stock from axed Kanye West deal and donate proceeds

Adidas has decided to try to sell some of the Yeezy stock it has in storage after it terminated its partnership with the musician

Evening Standard

Adidas is reportedly going to begin selling Yeezy sneakers again, and that’s not a good look

This is not a good look for Adidas.

USA Today Sports Media Group

Unsold Yeezys collect dust as Adidas lags on a plan to repurpose them

Investors have been asking for Adidas' plan to repurpose unsold Yeezy products for months. On Friday, the company said it would likely settle on a plan in the "mid-term."

WEKU

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The Independent UK

Adidas breakup with rapper Ye, lost Yeezy sales hit earnings

Adidas saw operating earnings dwindle in the first three months of the year as the German sportswear company’s breakup with the rapper formerly known as Kanye West and his popular Yeezy shoe brand cost it $441 million in lost sales

Daily Mirror

Beyoncé and Adidas 'agree to part ways' after five years of creative partnership

Beyoncé and Adidas entered a creative partnership in 2018 when she relaunched her activewear brand Ivy Park, but sources claim the line had not met financial expectations

Chicago Sun-Times

What will Adidas do with $1.3 billion worth of Yeezy shoes after split with rapper?

CEO Bjorn Gulden said selling the popular line of shoes would mean paying royalties to Ye, who was dropped by Adidas five months ago after making antisemitic remarks on social media and in interviews.

WEKU

Adidas reports a $540M loss as it struggles with unsold Yeezy products

In October, Adidas cut ties with Ye, formerly known as Kanye West, over the rapper's antisemitic remarks. The company's inability to sell his popular Yeezy line of shoes helped batter earnings.

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The Independent UK

Adidas earnings take beating on breakup with Ye, China slump

Adidas’ breakup with the rapper formerly known as Kanye West and the inability to sell his popular Yeezy line of shoes helped batter earnings at the end of last year

Fortune

Adidas launches probe into Ye's alleged inappropriate behavior at Yeezy

Adidas reportedly was made aware of Ye’s “problematic behavior” but ignored the allegations and “turned their moral compass off.”

Al Jazeera

Puma chief Bjorn Gulden named new Adidas CEO

The Norwegian had served as senior vice president of apparel and accessories at Adidas in the 1990s before joining Puma.

Asharq Al-Awsat

Puma Raises Full-Year Revenue Outlook after Solid Q2

German sportswear maker Puma reported stronger than expected second-quarter earnings on Wednesday on "very strong growth" across its product range and raised its revenue outlook for the full-year 2022. The company said its earnings before interest and taxes (EBIT) rose by 34.4% on the year to 146 million euros ($148.06…

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