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Nearly seven months on from Adidas parting ways with rapper Kanye West, and the sportswear brand reportedly still has $1.3 billion of unsold Yeezy stock in its warehouses. The decision from Adidas to split from West - otherwise known as Ye - came back in October last year came after the 45-year-old made antisemitic remarks both in interviews and online. But now, Adidas has to decide what to do with the remaining stock of the popular shoe as the company attempts to turn its fortune around after it abruptly ended its partnership with West and his Yeezy brand, with 400 million euros ($441 million) in lost sales at the start of the year. Sign up to our free Indy100 weekly newsletter Though Adidas is "getting closer and closer to making a decision" on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said, as per Associated Press. He became in charge back in January this year, three months after Adidas terminated it's partnership with Ye. However, a decision has not yet been reached due to "so many interested parties," he added. Gulden did not confirm whether the option to destroy the shoes had been ruled out but noted that this is something it is the company is "trying to avoid." Meanwhile other options have their own downsides, since selling the shoes would mean Ye would need to be paid royalties, removing brand identification would be dishonest. Giving the shoes away for free sounds like a nice idea in theory but this could cause them to be resold at a higher market price. Gulden is also remaining tight-lipped on the exact quantity of stock that is left since he believes if consumer are aware of this number it "could have an impact on demand," as per AP. The CEO admitted losing Yeezy is "of course hurting us" and if Adidas decides not to sell the remaining shoes, it could reduce earnings by 500 million euros this year. Net sales declined 1 per cent in the first quarter, to 5.27 billion euros, and would have risen per cent with the Yeezy line, the company said. As a whole, Gulden described 2023 as a "a year of transition" with "a better ’24 and a good ’25" as the German sportswear business continues without the Yeezy brand. Elsewhere, Adidas found itself being sued by investors last week who allege the company knew about Ye’s offensive remarks and harmful behaviour years before the termination and failed to take precautionary measures to limit financial losses. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

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Harrison Ford attended the highly anticipated Indiana Jones and the Dial of Destiny premiere with his wife - who awkwardly found out on arrival at the cinema screen that she wasn't seated with her husband. The action film, where the veteran actor reprised his role for the final time as the adventurous professor of archaeology, premiered on the third day of the 76th annual Cannes Film Festival. He was joined by his wife and fellow actor Calista Flockhart, but the seating arrangements had other plans. Sign up to our free Indy100 weekly newsletter In a clip that has been circulating on social media, it shows the moment the 58-year-old looked confused after she noticed her seat was behind her husband and not beside him. While Ford was taking in the standing ovation he received from the audience, before noticing he wasn't going to be sat next to his wife for the film screening. "Look! You're right behind me. Well, that's the way it is," Ford said, noting the seating error as it appeared both assumed they were be sat next to each other. At the end of the clip, Flockhart then headed to her seat. Kyle Buchanan from New York Times, shared the clip on Twitter and wrote: “Awkward moment at the INDIANA JONES premiere when Harrison Ford and Calista Flockhart arrive at his seat and she realises Cannes assigned her the row behind him.” This is the fifth in the series, following on from Raiders of the Lost Ark (1981), Indiana Jones and the Temple of Doom (1984), Indiana Jones and the Last Crusade (1989), Indiana Jones and the Kingdom of the Crystal Skull (2008). While Indiana Jones and the Dial of Destiny stars Ford alongside the likes of Phoebe Waller-Bridge and Mads Mikkelsen and is set to be released on June 30. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

LOS ANGELES--(BUSINESS WIRE)--Aug 3, 2023--