So, Adidas is stuck with a whole lotta Yeezy gear after kicking Kanye West to the curb for his anti-Semitic remarks. And let me tell you, they’re in a real pickle.
The team is SMH with no clue what to do
They can’t just burn or trash it because, you know, that’s not exactly environmentally friendly. And donating it would only create a bigger problem because those kicks would be in high demand on the resale market. Plus, even if they rebrand the gear and sell it, Ye still gets a piece of the pie.
So, what’s the solution? Sell the gear and donate the proceeds to charity. That’s what the new Adidas CEO Bjørn Gulden is suggesting, anyway. And he promises that the people who were hurt by Kanye’s comments will benefit from it.
But here’s the thing, getting rid of all that Yeezy gear isn’t the only headache Gulden has to deal with. Adidas lost about $630 million in sales in Q4 of 2022 because of the split with Ye.
That’s a lotta dough, folks. And Gulden’s not optimistic about 2023 either. He’s calling it a “transition year,” which is corporate speak for “we’re screwed.”
And just when you thought it couldn’t get worse, Adidas is expecting an operating loss of over $730 million this year.
That’s right, they haven’t seen losses like this since George H. W. Bush was president and Wayne’s World was still a new movie. Ouch.
