Adidas says it’s donated or is planning to give away more than $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes last year
Adidas said Wednesday that it's donated or is planning to give away more than $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes last year after it severed ties with Ye, the rapper formerly known as Kanye West. The German sportswear brand had $1.
Adidas said deciding to sell a big chunk of its Yeezy inventory and improved operations helped it pull out operating profit of 268 million euros last year, a nearly 60% plunge from the previous year. It blamed a high tax rate for ending the year with a net loss of 58 million euros, a massive turnaround from net income of 254 million euros in 2022.
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Yeezy shoe sales lead Adidas to $150 million in donations to anti-hate groupsAdidas says it’s donated or is planning to give away more than $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes last year.
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Yeezy shoe sales lead Adidas to $150 million in donations to anti-hate groupsAdidas says it’s donated or is planning to give away more than $150 million to groups fighting antisemitism and other forms of hate from the sales of Yeezy shoes last year.
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Adidas warns of falling sales in North America as it continues to sell off Yeezy inventoryAdidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear brand continues to sell off its Yeezy…
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Kanye West’s Yeezy Shoes Save Adidas’ Bottom Line—Spur $150 Million In Donations To Anti-Hate GroupsI am a Colorado based reporter covering breaking news with a special emphasis on the entertainment industry, pop culture and sports. I previously covered local news in the greater Boston area, and I graduated from Northeastern University in 2017.
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Abridge Raises $150 Million To Make AI Medical Scribes Even SmarterI'm a senior writer at Forbes covering healthcare technology, and I also write the InnovationRX newsletter. I was previously a healthcare reporter for POLITICO covering the European Union from Brussels and the New Jersey Statehouse from Trenton. I was a 2019-2020 Knight-Bagehot Fellow in business and economics reporting at Columbia University.
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