Adidas says dropping Kanye West could cost it more than $ 1 billion in sales

The article “Adidas says dropping Kanye West could cost it more than $1 billion in sales” was written by Jordan Valinsky and published on the 10th of February 2023 on the CNN website. 

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The article “Adidas says dropping Kanye West could cost it more than $1 billion in sales” focuses on the financial consequences for Adidas following its termination of the partnership with Kanye West. It discusses the strategies for minimizing the losses and presents the company’s financial situation overall. It also offers a brief explanation of why the company chose to end the partnership.

Adidas will lose money after ending the partnership with Kanye West

The article states that Adidas  will face a significant drop in revenue this year. The reason for this is the termination of the nine-year partnership with designer Ye, formerly known as Kanye West. The collaboration was called Adidas Yeezy. Adidas is now unable to sell the existing stock of Yeezy clothing and shoes. This is estimated to lead to a drop in revenue for Adidas of around $1.3 billion in the year 2023.

The article mentions that Adidas will try to sell its existing stock of Yeezy shoes and clothing without the Yee...