‘Just Like That’ star Sara Ramirez slammed for waving transgender flag at pro-Palestinian rally
Sara Ramirez sported a keffiyeh as they joined thousands of protesters to march through the Bay Ridge neighborhood
2023-10-23 19:20
Is Simon Cowell angry with Harry Styles? 'AGT' judge praises Steel Panther's act dissing his protege on NBC show
'AGT' fans were left in shock after Simon Cowell praised Steel Panther's 'Death to Harry Styles', which disses his protege
2023-08-30 11:23
Adidas is still figuring out what to do with $1.3 billion worth of unsold Yeezys
Nearly seven months on from Adidas parting ways with rapper Kanye West, and the sportswear brand reportedly still has $1.3 billion of unsold Yeezy stock in its warehouses. The decision from Adidas to split from West - otherwise known as Ye - came back in October last year came after the 45-year-old made antisemitic remarks both in interviews and online. But now, Adidas has to decide what to do with the remaining stock of the popular shoe as the company attempts to turn its fortune around after it abruptly ended its partnership with West and his Yeezy brand, with 400 million euros ($441 million) in lost sales at the start of the year. Sign up to our free Indy100 weekly newsletter Though Adidas is "getting closer and closer to making a decision" on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said, as per Associated Press. He became in charge back in January this year, three months after Adidas terminated it's partnership with Ye. However, a decision has not yet been reached due to "so many interested parties," he added. Gulden did not confirm whether the option to destroy the shoes had been ruled out but noted that this is something it is the company is "trying to avoid." Meanwhile other options have their own downsides, since selling the shoes would mean Ye would need to be paid royalties, removing brand identification would be dishonest. Giving the shoes away for free sounds like a nice idea in theory but this could cause them to be resold at a higher market price. Gulden is also remaining tight-lipped on the exact quantity of stock that is left since he believes if consumer are aware of this number it "could have an impact on demand," as per AP. The CEO admitted losing Yeezy is "of course hurting us" and if Adidas decides not to sell the remaining shoes, it could reduce earnings by 500 million euros this year. Net sales declined 1 per cent in the first quarter, to 5.27 billion euros, and would have risen per cent with the Yeezy line, the company said. As a whole, Gulden described 2023 as a "a year of transition" with "a better ’24 and a good ’25" as the German sportswear business continues without the Yeezy brand. Elsewhere, Adidas found itself being sued by investors last week who allege the company knew about Ye’s offensive remarks and harmful behaviour years before the termination and failed to take precautionary measures to limit financial losses. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-05-10 02:25
'Selling Sunset' Season 6: Who is Nicole Young? Top producing realtor sold more than $100M in real estate
Nicole Young made bried appearances in the earlier seasons on 'Selling Sunset' but in Season 6, she will make her debut
2023-05-19 14:15
'The Voice' Season 24: Who is Jacquie Roar? Gwen Stefani left 'intimidated' by Reba McEntire as she steals 4 chair turner
'The Voice' Season 24 singer Jacquie Roar asked her 6-year-old daughter Leilani to chose her coach
2023-10-04 14:29
10 Myths About Donating Blood, Debunked
The rules for donating blood have recently changed.
2023-06-03 00:19
How Do You Stress the Word: THANKSgiving or ThanksGIVing?
Here’s something else to stress about for Thanksgiving.
2023-11-21 03:51
The new AirPods Pro look old but sound fresh
Best Prime Day Apple deals When it comes to AirPods, Apple is clearly in no
2023-07-13 05:23
Bob Barker, former longtime host of 'The Price Is Right,' dead at 99
Bob Barker, the "Price Is Right" host whose silky-smooth command, impish sense of humor and advocacy for animal welfare issues made him a beloved fixture on television for more than 35 years, has died. He was 99.
2023-08-27 01:19
'Down to the wire!' Kylie Minogue is worried her Las Vegas residency venue won't be ready in time
'I Should Be So Lucky' hitmaker Kylie Minogue has admitted her Las Vegas venue "hasn't even finished its build yet", and it could go "down to the wire".
2023-10-05 15:24
'Up' widower Carl Fredricksen gets second chance at love in 'Carl's Date' trailer
Carl Fredricksen from Pixar Animation Studios' "Up" is floating back to the big screen in new theatrical short "Carl's Date."
2023-06-13 03:47
Garden Soil vs. Potting Soil: What's the Difference?
The differences between garden soil and potting soil shouldn’t be ignored.
2023-05-19 21:19
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