Adidas CEO Speaks On Ye's Antisemitic Remarks: 'I Don't Think He Meant What He Said'
Portfolio Pulse from Benzinga Neuro
Adidas CEO Bjørn Gulden has expressed his beliefs about antisemitic remarks made by Ye, formerly known as Kanye West, suggesting that Ye did not intend the comments. These comments led Adidas and other companies to sever ties with Ye. Adidas anticipates over $1 billion in revenue losses after discontinuing Ye's products. In August, Adidas announced plans to donate some profits from the high-end Yeezy collaboration to anti-hate groups.
September 21, 2023 | 9:38 am
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Adidas anticipates over $1 billion in revenue losses after discontinuing products associated with Ye, formerly known as Kanye West. The company also plans to donate some profits from the high-end Yeezy collaboration to anti-hate groups.
The termination of Adidas' partnership with Ye, a significant contributor to their product line, is expected to result in substantial revenue losses. This could negatively impact the company's financial performance in the short term, potentially leading to a decrease in the stock price.
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