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Adidas faces potential $320M Yeezy shoe write-off post-Kanye split

Published

2 years ago

November 9, 2023

ticker NEWS

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.

News

Electric vehicles transform last mile delivery market

Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.

Published

11 hours ago

October 1, 2025

ticker NEWS

Australia’s last-mile delivery is rapidly adopting electric vehicles, fueled by green initiatives and insights from expert Joe Sofra.

The shift towards electric vehicles (EVs) for last mile delivery is accelerating globally, with Australia expected to see significant growth.

Companies and retailers are increasingly adopting greener solutions, driven by supporting government initiatives.

Joe Sofra from ANC discussed the current state of the last mile EV market.

#ElectricVehicles #Sustainability #LastMileDelivery #Innovation #Australia

News

Trump gives Hamas ultimatum for Gaza peace plan acceptance

Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region

Published

1 day ago

October 1, 2025

Ahron Young

Trump gives Hamas deadline to accept Gaza peace plan amid rising pressure from Arab states and ongoing conflict in the region

In Short:
– Trump gives Hamas three to four days to accept a U.S.-backed Gaza peace plan, warning of consequences.
– Hamas calls the plan biased and insists on a complete Israeli withdrawal before considering any agreement.

U.S. President Donald Trump has given Hamas three to four days to accept a U.S.-backed peace plan for Gaza, warning of severe consequences if they reject it.The plan, shared by mediators Qatar and Egypt, emerged after Israeli Prime Minister Benjamin Netanyahu endorsed it during a visit to the White House. Hamas, which was not part of the talks, is expected to review the proposal that calls for disarmament, a previously rejected demand.

Trump stated that support for the plan came from both Israeli and Arab leaders, and he emphasised the need for Hamas to respond promptly. The proposal includes a ceasefire, hostage exchanges, an Israeli withdrawal from Gaza, and disarmament of Hamas, along with a transitional government.

A Hamas source described the plan as biased towards Israel and containing unacceptable conditions.

The group maintains that a complete Israeli withdrawal is a prerequisite for their agreement to any deal, while they are unwilling to disarm.

Pressure Mounts

Hamas faces significant pressure as foreign ministers from Saudi Arabia, Jordan, the UAE, Qatar, and Egypt have supported the initiative. Turkey’s intelligence head is also set to join discussions in Doha, marking a new level of mediation.

Despite expressing initial support, Netanyahu is cautious about the plan’s implications for Palestinian statehood and faces pressure from his coalition. Public sentiment in Gaza reflects a desire for peace, albeit with scepticism about the sincerity of both Trump and Netanyahu’s commitments.