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Adidas: drop in results in 2022 after the end of the collaboration with Kanye West

2023-02-09T19:44:56.473Z

The operating loss of the German brand is also estimated at 700 million euros for the year 2023. German sports equipment manufacturer Adidas suffered a heavy loss in 2022, suffering the full brunt of the end of its collaboration with Kanye West, the group said on Thursday. Read alsoAdidas breaks off partnership with Kanye West after anti-Semitic remarks Adidas' net profit fell to 254 million euros, compared to 1.49 billion euros generated in 2021. The end of the collaboration with the Ameri

German sports equipment manufacturer Adidas suffered a heavy loss in 2022, suffering the full brunt of the end of its collaboration with Kanye West, the group said on Thursday.

Read alsoAdidas breaks off partnership with Kanye West after anti-Semitic remarks

Adidas' net profit fell to 254 million euros, compared to 1.49 billion euros generated in 2021. The end of the collaboration with the American rapper Kanye West after the anti-Semitic remarks made by the latter, should end in 2023 with an operating loss of 700 million euros, Adidas said.

Source: lefigaro

All business articles on 2023-02-09

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