Adidas Regrets Its Decision To Dismiss Kanye West

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After breaking up relations with the former billionaire last year, Adidas issued a public apology to Kanye West. Adidas CEO Gulden spoke about the controversy involving Kanye West and the company’s remorse about its decision to dismiss him. Gulden was aware of Kanye West’s critical remarks about their company, but he didn’t think the musician meant what he said. Additionally, Gulden stated that they believe Kanye is not a bad person. Gulden then praised the rapper profusely, calling him one of the most creative people in music and street culture in the world.

After Kanye West disparaged the company a year ago, Adidas severed their relationship. Adidas went on to cease producing the Yeezy shoe collection and accelerate the exit date for the billionaire. At the time, Gulden claimed in a statement that it prohibited any hate speech but it now seems that the corporation has changed its tune. Adidas views the termination of their contract with Kanye West as lost business. Kanye has been trending on social media and continuous gains widespread popularity ever since his stay in Europe.

Adidas regrets its decision to dismiss Kanye West

Adidas started the process of liquidating its remaining stock of Yeezy clothing earlier this year. Adidas reported that Yeezys generated about $437 million in revenue during the second quarter of 2023, which was largely in line with Yeezy sales during the same quarter in 2022. The business announced that it intended to donate a sizeable portion of the proceeds to groups that fight racism as well as other forms of prejudice. Despite this, the corporation claimed that the closure of Kanye West’s Yeezy line has cost them $437 million.