News
Adidas faces potential $320M Yeezy shoe write-off post-Kanye split
Adidas is contemplating a significant financial blow as it considers writing off $320 million worth of Yeezy shoes following its separation from music and fashion icon Kanye West.
The sportswear giant’s decision to sever ties with West’s Yeezy brand has left a mountain of unsold merchandise, threatening to dent the company’s balance sheet.
The partnership between Adidas and Kanye West, which began in 2013, had been immensely successful, with Yeezy shoes becoming a highly sought-after fashion statement.
However, recent controversies and disagreements between West and Adidas prompted the sportswear company to distance itself from the celebrity designer.
The massive inventory of Yeezy shoes now presents a dilemma for Adidas, as it grapples with finding a solution to deal with the surplus stock. A $320 million write-off could significantly impact the company’s financial performance in the short term.
Adidas is currently exploring various options, including discounting, donating, or repurposing the unsold inventory to mitigate the financial hit.
-
Leaders1 day agoASEAN: celebrating 40 years of friendship
-
Shows3 days ago
The journey of a psychic medium
-
Leaders6 hours ago
A new business champion for Vietnam
-
Leaders3 days ago
Invested: Australia’s southeast Asia economic strategy to 2040
-
News3 days ago
Will Tesla’s supercharger layoffs eventually payoff?
-
Leaders3 days ago
Secretary General gives ASEAN update
-
Money1 day ago
Will Australia’s foreign investment rule create an economic boost?
-
News1 day ago
How Google’s Gemini AI will stand against cyber threats
