Adidas CEO Stands by Kanye West Amidst Anti-Semitism Controversy
The musician formerly known as Kanye West’s lucrative Yeezy collaboration with the German sportswear company was terminated as a result of his antisemitic comments, but Adidas CEO Bjorn Gulden has stepped forward to say that in his opinion, the remarks were not intended as such.
Adidas ended its partnership with the t singe, in October 2022. This decision was made in reaction to a string of contentious tweets he posted on social media platforms, including one in which he made offensive remarks about Jews and the “death con 3 on Jewish people”
“I don’t think he meant what he said and I don’t think he’s a bad person – it just came across that way,”
Mr. Gulden spoke about the details of the contract termination with West, in a recent edition of the Norwegian podcast “In Good Company.” He agreed that West had said things that were questionable, which caused the relationship to end and the product to be withdrawn. Mr. Gulden apologized for the circumstance, thinking that West’s motives might not have been what they first looked to be.
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Despite the negative consequences, Mr. Gulden acknowledged the Atlanta-born artist as one of the world’s most creatively talented people.
The hugely well-known Yeezy trainer brand was created in 2015 as a result of Adidas and West’s collaboration. This brand quickly turned into one of Adidas’ most valuable shoe lines, bringing in about $1 billion in annual revenue.
Adidas’ decision to break ways with West, however, has had a major negative financial impact, leading to a fall in both sales and profits.
For the first half of the year, the company forecast a significant drop in sales of €400 million. In May, Mr. Gulden claimed that the company’s performance had suffered as a result of the split.
Adidas is currently struggling with an excess of Yeezy sneakers worth €1 billion. As a more environmentally friendly solution than demolition and write-offs, the company has decided to auction off the surplus goods in order to deal with this surplus.
Adidas CEO Stands by Kanye West Amidst Anti-Semitism Controversy
