There are rumors that adidas have offered Kanye West a new deal in a bid to re-sign him given his colossal financial losses.
Last October, the three-stripe brand announced that it was ending its partnership with Kanye West, due to numerous controversies including the anti-Semitic remarks he had made. With its association with the Yeezy brand since 2014, whose revenue represented 10% of its turnover, the German equipment manufacturer had also estimated losses of 250 million euros on its net income in 2022.
But the ax fell and it was a cataclysmic impact that this rupture had on the results of adidas. The German company has just announced that its net income has fallen from 1,49 billion euros in 2021 to 254 million euros in 2022. As for 2023, the brand should suffer a drop in its turnover of 1,2 billion euros and an operating loss of 700 million euros. This is in addition to an additional investment of 200 million euros with the aim of overhauling the business of the company to improve its profits in 2024.
It was expected that adidas would release Yeezy products without Kanye West. Finally, the German equipment manufacturer would have him, according to certain rumors of corridor to be considered with precaution, drafted and proposed a new deal in order to rehire him. As a bonus, this new contract would be subject to an upward revaluation of its royalties.
Would a return of Kanye West to adidas allow the brand to rebound? Only the future will tell us. Stay tuned to find out what happens in this case!