Nathan Lane hailed as 'one funny man' after he hilariously mocks Will and Jada Pinkett Smith's 'separation'
The Tony Award-winning actor humorously commented on Will and Jada's split during his appearance on 'Late Night with Seth Meyers' on Friday, October 20
2023-10-20 17:50
Adidas is still figuring out what to do with $1.3 billion worth of unsold Yeezys
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.
2023-05-10 02:25
'RHOBH' star Kyle Richards deletes social media post after Internet trolls her over 'messy and obvious' Photoshop fail
After getting criticism for her 'ridiculous' photoshop error, Kyle Richards deletes the image
2023-08-29 11:45
Olivia Rodrigo, SZA, Usher, Jelly Roll and more will hit the 2023 iHeartRadio Jingle Ball stage
iHeartRadio has unveiled its star-studded 2023 Jingle Ball lineup, including performances by Olivia Rodrigo, Usher, Nicki Minaj, SZA, Niall Horan, and Jelly Roll
2023-09-29 23:19
Taylor Swift news diary: Pop star shatters tickets pre-sale record for concert docu amid buzzing Travis Kelce romance rumors
Here's some of the latest Taylor Swift updates for the day
2023-10-05 21:56
'Wheel of Fortune' host Pat Sajak can't help but mock another player as his snide behavior on show continues
'Wheel of Fortune' host Pat Sajak pokes fun at contestant, Kimberly, who behaved dramatically on-air
2023-06-03 12:15
Here's why Alexander Zverev stopped play at the US Open: German player was appalled by fan's 'historical' song
The dramatic encounter unfolded in the early hours of the morning in New York, with both players locked in an enthralling fourth-round battle
2023-09-05 20:26
MILAN FASHION PHOTOS: Benetton reaches across generations with mix-matched florals and fruity motifs
MILAN (AP) — Milan Fashion Week continued Thursday for the second day with mostly womenswear previews for next spring and summer under a steady rain.
2023-09-22 00:47
Biggest bombshells from Britney Spears' memoir 'The Woman in Me'
Britney Spears has shared many secrets, including stories from her childhood and her love life
2023-10-18 22:46
Taylor Swift news diary: Pop star's 'Eras Tour' movie becomes highest-grossing domestic concert film ever
Here's a glimpse of Taylor Swift updates from the day!
2023-10-16 20:53
Mizkif once reacted to Pokimane's 5 tips for smaller streamers video: 'Women have it so much easier than men'
Mizkif reacted to Pokimane's video and argued that it is easier for women to get more popular by streaming
2023-06-01 17:55
'Welcome to Plathville' star Olivia Plath 'transfixed by grief' after brother Micah Meggs dies, fans comfort her
'Welcome to Plathville' star Olivia Plath said, 'I don't want to cover it up or numb it. So no, I am not happy'
2023-05-25 09:17
You Might Like...
Spectrum cuts off ESPN at start of Utah vs. Florida: How to watch without cable
Who stars in 'Royalteen: Princess Margrethe'? Meet the cast of Netflix's Norwegian feature film
'She’s a minor': Internet trolls Lil Tay for her Britney Spears 'Slave'-inspired Halloween costume
David McCallum, star of hit TV series 'The Man From U.N.C.L.E.' and 'NCIS,' dies at 90
Christina Hendricks fans speculate she's on Ozempic as star appears slimmer in Instagram post: 'That’s some weight loss'
11 Movies to Get You Into the Thanksgiving Spirit
'First person in the world' to hear Dua Lipa's new song doesn't know who she is
Are Paige Spiranac and LA Golf collaborating? TikTok sensation unveils special 'Pink Series' kit, fans say 'beauty in the rarest form'
