Claquette yeezy5/4/2023 It is a very complicated issue.” Gulden, however, is well aware of the environmental impact burning €500 million worth of YEEZY’s would have. “That’s why we haven’t made a decision on it. “If you can’t sell and you can’t destroy, what’s your option?” said Gulden on the call. Since joining his former brand’s longtime rival, however, Gulden has been wondering what to do with all unsold YEEZY product. Prior to the Three Stripes, the 57-year-old served as CEO of PUMA. Gulden took over as CEO of the German sportswear behemoth in January, replacing Kasper Rørsted. “We are currently not performing the way we should.” “The numbers speak for themselves,” shared Gulden in an official press release about the company’s financial outlook for 2023. If the preliminary outlook remains, the annual loss will be the company’s first in 31 years. Financial estimates for the entirety of 2023 propose that adidas will see an operating loss of €700 million, which includes the negative impact of potentially writing off €500 million with of unsold YEEZY inventory. Although the Three Stripes saw a profitable year, its operating loss in Quarter 4 was of €724 million ($773.5 million USD). As end-of-year financial reports surfaced, however, the loss of Ye as a partner was put into perspective.ĭuring a call with investors on Wednesday, adidas CEO Bjørn Gulden went over the company’s fiscal 2022. The decision was viewed as “long-overdue” by some given how unabashed and offensive the former “Kanye West” had been about the Three Stripes, people in the footwear industry, politics, and Jewish people in the months leading up to October. On October 25, 2022, adidas nmd r1 s76848 black screen size chart adidas YEEZY partnership that began in November 2013.
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