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FutureStarrProjected Sales Of Adidas Down $1.3B After Kanye Split
Adidas' projected sales have declined by $1.3B since it severed ties with rapper Kanye West over his anti-semitic remarks. That represents a massive loss for the company, which is still struggling to recover from an extensive setback in its Chinese business.
Kanye West's net worth is estimated to be $400 million, and Kim Kardashian boasts a fortune worth more than $1 billion, according to Forbes. Her assets include her music catalog, 5 percent stake in Skims shapewear brand and cash holdings.
Kanye West's Yeezy collection had been one of Adidas's top sellers, contributing between 4%-8% of their overall revenue as well as 7%-12% in footwear sales.
Following Kanye West's anti-semitic remarks and other controversial statements in October 2022, Adidas was forced to discontinue him and his shoes. As a result, Adidas' projected sales of Yeezy apparel, shoes, and accessories will decrease by $1.3 billion in 2023.
Analysts anticipate this setback will only be temporary. However, they also think it could cost the brand even more money if Adidas struggles to offload its inventory of Kanye-designed items.
Bloomberg Businessweek reports that Adidas' financial guidance for 2023 indicates if it does not sell the items, its operating profit could decline by up to EUR500 million this year. This amount is significantly greater than what the company originally planned to spend on repurposing merchandise, according to Bloomberg Businessweek.
Analysts anticipate Adidas may not be able to recoup the marketing fees it has paid Kanye in the past, which they estimate at $300 million. That suggests Adidas could lose more than a billion dollars in revenue this year according to Cowen & Co.
Adidas has recently released a number of Yeezy models that will ensure their brand stays at the top of sneakerheads' minds. One popular model from this line is the Yeezy Boost 700 Bright Blue, which was one of their most recent and sought-after sneakers.
It has been highly praised for its comfort and performance, offering the same level of cushioning we've come to expect from Boost midsoles. This shoe makes a great choice for casual wear or when you want to look cool on the streets.
The Yeezy Boost 700 Bright Blue is one of the most comfortable and functional shoes available, making it a must-have for your collection. Crafted with leather and suede materials for excellent texture that won't stretch out over time like other suede materials may. Plus, its charcoal outsole adds to its charm.
Adidas and Kanye West have been collaborating since Yeezy Season 1 to produce three successful collections, the latest being Yeezy Season 3. However, this collaboration has caused quite a bit of controversy due to its success;
Fans of Yeezy eagerly await each new collection from the rapper. In fact, some have become so eager for one of the sought-after shoes that some are even willing to spend substantial amounts of money just for it!
Recently, the rapper has caused much controversy by declaring he will "cut off" his relationship with Adidas after his contract expires in 2026. This decision could potentially cost Adidas a substantial amount of money.
Adidas shares have dropped by up to 8% following this statement, showing that Yeezy is no longer seen as a cost-saving measure for the company. Without doubt, Adidas will face serious financial strain after this decision.
Recently, the Yeezy Season 3 collection was revealed and an internet preview appeared. This range of clothing pieces were similar to what had been seen during the previous two seasons.
There were some standout pieces, such as this stunning knitwear with an autumnal forest print. Boasting arching branches and sparse leaves, this sweater is the ideal way to add a splash of flair to any ensemble.
The sweater can be purchased now at retailers such as ASOS and Nike. While the price point has yet to be confirmed, it is expected to be much cheaper than Yeezy Season 1's prices.
No doubt Yeezy has always been a controversial brand, with critics alleging the rapper has made it harder for people to afford his clothes and shoes. Despite this, the rapper has managed to reduce the price of Yeezy Season 3 so that even regular consumers can purchase them.
On November 4, Yeezy Season 3 will be available at select retailers. While the exact price range has yet to be confirmed, it is believed that t-shirts will be priced under $200; similarly, hoodies and pants will be much more budget friendly than what was offered with Yeezy Season 1.
Adidas and Kanye West's relationship has been on the line for the past two weeks as West's relationship with adidas was called into question following anti-semitic remarks and multiple Twitter attacks directed at his line of clothing.
While that sparked controversy, it also represents a massive loss for Adidas. According to Reuters, sales at Adidas were down $1.3B in the last quarter as they try to recover after their contentious partnership with West began to unravel.
In 2013, West joined forces with sportswear giant Adidas to launch his Yeezy line, propelling both into fame and onto Forbes' list of billionaires. With this collection, he ushered himself into global recognition - as well as earning himself a place on their exclusive list.
Since then, his collaborations with Adidas have seen millions of pairs of Yeezy sneakers and other pieces sold worldwide. However, his recent social media attacks have put a strain on their relationship as the 45-year-old rapper lashed out against Adidas for everything from its lack of diversity to antisemitic comments on Twitter.
Despite all of the criticism, Kanye West's latest Yeezy season marked a huge improvement. Unlike Season 4, which featured plastic boots and poorly made footwear with unplanned cutouts, this collection focused on wearable fashion - evidenced by models wearing jackets, bomber coats and hoodies.
One thing to be mindful of with Yeezy Season 4 is the price point. Although tees are available for $75, most of the collection (especially outwear like the Butter Bomber and Supple women's Low Heeled Boots) retail for upwards of $580.
West has just opened an official Yeezy showroom in Paris to prove that his line is far from being finished. The space showcases a wide variety of items from the collection, such as Yeezy Boost 350 and 750 sneakers.
Next month, Yeezy Season 4 is set to make its debut at New York Fashion Week and rapper and designer Kanye West has confirmed that he will be showing the collection on September 7 - the day after his "The Life of Pablo" album releases. Art directed by Vanessa Beecroft - who has designed all previous Yeezy collections so far - the show is expected to be an incredible success!
Kanye West and Adidas have recently released Yeezy Season 5 with a collaboration that features apparel like sweatshirts and track pants. However, these items will likely sell out quickly after release so if you want one then act fast!
Kanye West designed the Yeezy Season 5 collection, inspired by Calabasas. This collection features muted hues as well as bright Jupiter hues on clothing pieces. Additionally, there are various logos featured throughout each garment.
When these sneakers first released, they quickly gained popularity among athletes due to their durability and comfort. Unfortunately, they also had a reputation for being quite pricey; so if you wanted one pair of these sneakers, act quickly!
Though the Yeezy Season 5 was a huge success, some were unimpressed with its sneaker design. Some even felt it to be too futuristic in style.
However, this was actually beneficial as it made them more affordable. This marked a major development for the Yeezy brand, as more people could now afford them.
It was also the first time Yeezy West released shoes in a boot shape, adding to their appeal. Additionally, he designed the Yeezy Season 5 with waterproof rubber soles so your feet would stay dry during showers and cold snaps.
These sneakers have become even more sought-after. You can now find them both in stores and online.
The Yeezy Season 5 is an essential item in every sneaker lover's closet. It provides a stylish alternative to the classic sneakers and can be paired with any outfit.
Many conspiracy theorists believe that the Yeezy brand is connected to the Illuminati. Furthermore, these people claim there's evidence of financial gain associated with its sale.
The Yeezy Season 5 is an excellent opportunity to flaunt your fashion sense while staying cool at the same time. Plus, it's a great way to get yourself excited for spring and summer months ahead!