Kanye West had made anti-Semitic remarks. CHRISTOF STACHE, JULIEN DE ROSA / AFP
The group falls into the red after its split with the controversial star.
By leaving the management of Puma to take that of Adidas at the beginning of 2023, Björn Gulden knew that the task would be difficult. But he probably did not anticipate the extent of the damage caused by the breach, last October, of the contract between Adidas and the American rapper Kanye West. The range of Yeezy sneakers and clothing, developed by the two partners, was strategic for Adidas.
The abandonment of the partnership had signed in the fall the sinking of the American rapper, renamed “ Ye “. It is now proving to be a chasm for the German group. Björn Gulden warned Thursday evening that the group’s net income would increase from 1.5 billion euros in 2021 to 254 million euros in 2022. He revealed the amount of this extraordinary divorce: 1.2 billion euros. euros in less revenue in 2023, and 500 million euros in losses in the event of depreciation of the entire stock of Yeezy clothing and sneakers. Adidas forecasts 700 million euros in operating losses in 2023. Unheard of. The stock plunged…
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