Adidas has a terrible Latest on Kanye West
Adidas terminated their relationship with Kanye West after he made antisemitic comments and said the firm would not fire him.Breaking up with the 21-time Grammy winner after
seven years was a controversial choice, and it wasn't without its consequences. The Financial Times just published a piece detailing the steep price tag attached to this choice.
A recent article in The Financial Times details the steep price tag attached to this choice.Adidas reportedly possesses $530 million worth of vintage Kanye West gear.
To avert a financial disaster at the end of the year, Adidas is trying to sell those shoes at a high discount.According to the source, it is evident that Adidas has not yet decided
how it will sell off those shoes. It also shows how deeply Adidas engaged in business with West and how much the brand's fortunes depended on West's former widespread popularity.
According to the article, Adidas earned "upwards of $1.8 billion" from the arrangement with West, which would account for almost seven percent of the company's annual profits.
Considering the magnitude of the financial gain, it is clear why it took the sneaker company so long to cut ties with West.
The Adidas 350 v2 "Granite" will be the first unofficial West product released by the business in January.
They will retail for $230.Many in the business world are curious to see how well the product does without West's signature branding.