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FRANKFURT, Germany, March 13, 2024 (AFP) – German sportswear giant Adidas reported an annual loss for 2023 on Wednesday, still weighed down by the fallout from the end of its tie-up with controversial rapper Kanye West. The loss of 75 million euros ($82 million) followed a profit of 612 million euros the previous year. Sales fell by five percent to 21.4 billion euros, and were hit particularly hard in the United States due to the […]
Frankfurt, Germany (AFP) – Adidas said Thursday it was investigating claims against Kanye West after a report detailed alleged inappropriate behavior, just weeks after the German sportswear giant ended its partnership with the rapper. US magazine Rolling Stone reported claims that the rapper played pornography to Adidas staff in meetings, and discussed porn and showed an intimate photo of ex-wife Kim Kardashian in job interviews. It said former members of the team involved in “Yeezy” — […]
by Sam Reeves Adidas on Tuesday named Bjorn Gulden, chief of rival outfitter Puma, as its new CEO as the German sportswear giant seeks to emerge from months of turbulence. The Norwegian former professional football and handball player will take on the role from January next year, replacing current CEO Kasper Rorsted. He faces big challenges at Adidas, which has seen sales hit by coronavirus restrictions in key market China, and recently ended a […]
Berlin, Germany | AFP | by Sebastien ASH with Huw GRIFFITH in Los Angeles German sportswear giant Adidas said Tuesday it was ending its partnership with Kanye West after a series of anti-Semitic outbursts by the controversial rapper. Recent comments by West — now known formally as Ye — were “unacceptable, hateful and dangerous”, Adidas said in a statement. “After a thorough review, the company has taken the decision to terminate the partnership with […]
FRANKFURT AM MAIN, Germany (AFP) – German sportswear giant Adidas said Tuesday more than half of the polyester used in its products this year would come from recycled material, including millions of shoes made from plastic waste. In 2020, the share of recycled polyester in Adidas products will “exceed 50 percent for the first time”, the company said in a statement. By 2024, Adidas “is committed to using only recycled polyester” across its entire range of […]
WASHINGTON, United States (AFP) — Adidas, Nike and PUMA on Tuesday urged US President Donald Trump to prevent the shoe industry from falling victim to the trade war with China, saying new tariffs could be “catastrophic.” In a letter to Trump, those big name manufacturers joined forces with more than 170 other American shoe manufacturers and retailers calling for footwear to be exempted from a new round of punitive tariffs on $300 billion in Chinese […]
NEW YORK, United States (AFP) — A former Adidas executive was sentenced Tuesday to nine months in prison for bribing young basketball players in a case illustrating the excesses of amateur sports in the US. Jim Gatto, who was Adidas marketing director at the time, was convicted of making the payments to star high school basketball players in a bid to tie them to the sportswear company later in their careers. The payments had three […]
MELBOURNE, Australia (AFP) — Simona Halep goes in search of a first Grand Slam at the Australian Open next week without a sponsor, but happy she’ll be able to wear her “lucky” red dress. The world number one admitted she unusually had “no brand clothes” to wear at Melbourne Park for the first Grand Slam of the year after ending her deal with Adidas last season. “I have no contract now. Yeah, it’s an interesting […]
NEW YORK, United States (AFP) — Adidas doubled down on its business ties with rap star Kanye West on Wednesday, announcing a new line of footwear and accessories to be sold in dedicated shops. The Germany-based athletic wear giant said merchandise under the newly launched adidas + KANYE WEST label is an expansion of its existing YEEZY brand. “With adidas + KANYE WEST we are exploring new territories by opening up the sports world to […]
ANSBACH, Germany (AFP) — Adidas, the German maker of sportswear and equipment, announced Tuesday that it will start marketing its first series of sport-shoes manufactured by robots in Germany from 2017. More than 20 years after Adidas ceased production activities in Germany and moved them to Asiainstead, chief executive Herbert Hainer, unveiled to the press the group’s new prototype “Speedfactory” in Ansbach in southern Germany. The new state-of-the-art 4,600-square-meter plant is still being built, but […]
FRANKFURT , Germany (AFP) — Adidas said on Wednesday it would sell off its golf equipment brands, as it published “record” quarterly results showing a strong performance in the United States, a key market for the German sports giant. Following a “strategic review” of its golf business, Adidas said it would “actively seek a buyer” for some of its top equipment brands, including TaylorMade, Adams and Ashworth. The firm said it would focus on selling […]
FRANKFURT, Germany (AFP) — Adidas, the German maker of sportswear and equipment, said Wednesday that it is raising its full-year forecasts after notching up better-than-expected growth in the first three months. “In light of the strong brand momentum, which is reflected in the better than expected first quarter performance, the group has increased its 2016 financial outlook,” Adidas said in a statement. “Management now projects sales to grow at a rate of around 15 percent […]
