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Adidas says split from Yeezy will cost it $1.3 billion
Adidas expects to lose $1.3 billion in sales this year because Yeezy clothes and shoes will not be available. A lack of Yeezy products will also reduce operating profit by $534 million, with the company projected to break even this year.
According the article Adidas AG generated about €400 million ($437 million) in sales from Yeezy shoes in the second quarter of 2023, as consumer demand remained high despite a furore over the antisemitic views of the rapper behind the discontinued collaboration. Revenue from Yeezy was roughly in line with the same period last year, prior to the fallout.
What impact to the economy :Adidas decision to discontinue Yeezy products has had a significant impact on the company’s revenue. According to Forbes, Adidas expects to lose $771 million this year due to the loss of Yeezy sales, which is a significant portion of the company’s revenue. The discontinuation of Yeezy sales caused a $441 million revenue drop in the first quarter of 2023 for Adidas.
Ref. (https)url = cbsnews.com/ news/ adidas-kanye-west- yeezy-partnership-loss/
6405811 Surayut Intachai
Adidas expects to lose $1.3 billion in sales this year because Yeezy clothes and shoes will not be available. A lack of Yeezy products will also reduce operating profit by $534 million, with the company projected to break even this year.According the article Adidas AG generated about €400 million ($437 million) in sales from Yeezy shoes in the second quarter of 2023, as consumer demand remained high despite a furore over the antisemitic views of the rapper behind the discontinued collaboration. Revenue from Yeezy was roughly in line with the same period last year, prior to the fallout.
What impact to the economy :Adidas decision to discontinue Yeezy products has had a significant impact on the company’s revenue. According to Forbes, Adidas expects to lose $771 million this year due to the loss of Yeezy sales, which is a significant portion of the company’s revenue. The discontinuation of Yeezy sales caused a $441 million revenue drop in the first quarter of 2023 for Adidas.Ref. (https)url = cbsnews.com/ news/ adidas-kanye-west- yeezy-partnership-loss/
6405811 Surayut Intachai