Adidas Reportedly Suffers 1st Annual Loss In 30 Years Following Kanye West’s Departure. Recently, it has come to light that sportswear giant Adidas, with whom it had a significant partnership, experienced its first yearly loss in 30 years as a result of Kanye West’s departure.
As a result of the “Donda” rapper’s intermittent antisemitism, Adidas had to cut off contact.
Adidas eventually severed connections with Kanye West after pressure from the brand and others connected to him during his antisemitic rampage. Adidas made the announcement and provided explanations for why their association was ending.
Yet at the moment, Kanye West didn’t seem upset. Even though he was at the moment outside the billionaire’s league, he just shrugged it off.
It soon became clear that Adidas was having trouble without Ye and had a lot of unsold goods as a result of the breakup.
This forced the brand to reconsider its decision and try to get the rapper back into the fold. But then, the damage had already been done.
Multiple reports indicate that Adidas suffered its final annual operating loss (of about $763 million) as a result of the severing of ties with Kanye West.
If it would manage to recover that soon is not something anyone can say for certain at the moment. Shows just how powerful and influential some celebs really are.
