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Adidas Wonders What To Do With Yeezy Shoes After Ye Split in 2022

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Germany,  FRANKFURT — After splitting with the artist formerly Kanye West, Adidas is still trying to figure out what to do with 1.2 billion euros ($1.3 billion) worth of Yeezy sneakers. This has resulted in a significant loss for the German sportswear manufacturer at the end of 2017 and future pain expectations.

Selling the well-liked shoe line would entail paying royalties to Ye, who was fired by Adidas five months ago after making anti-Semitic remarks on social media and in interviews, according to CEO Bjorn Gulden. During an earnings call on Wednesday, he mentioned “several variables” regarding what to do with the shoes that are currently stored in warehouses.

Although some businesses have provided recycling options, destroying them could “create sustainability difficulties,” according to Gulden, who was appointed CEO following the uproar over Ye’s comments. Restitching them to sell them while obscuring the Yeezy brand “is not very honest. Therefore, it’s not an option,” he continued.

The goods would “come back again very quickly” because of their high market value, so suggestions to donate them to those in need in locations like earthquake-stricken Syria or Turkey “aren’t an option,” Gulden said.

“I can promise you that the people who this has wounded will also get something positive out of it and gain donations and revenues in different ways, shapes or forms,” Adidas CEO said if the company decides to sell the shoes.

Adidas cut relations with Ye in October after other companies had been pressured to do the same due to the rapper’s harsh comments towards Jews and other groups. Currently, the business is attempting to replace its flagship Yeezy brand, which experts have estimated to account for as much as 15% of its net income and find new ways to become profitable.

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Adidas cut relations with Ye in October.

In the final three months of 2022, the Ye split cost 600 million euros in lost revenues, contributing to the company’s 513 million euro net loss. In contrast to the decline, ascribed to rising supply prices and declining sales in China, the fourth quarter of 2021 saw a profit of 213 million euros.

If the company chooses not to repurpose the remaining Yeezy products in stock, it anticipates further losses of 500 million euros to its earnings this year. The business anticipates an operating deficit of 700 million euros in 2023.

Gulden claimed that while “so many corporations” were ready to purchase the well-liked shoes, doing so would require paying royalties to Ye. But, “it is not accurate” that the corporation was discussing selling them.

“Gazillions of people” had expressed their thoughts, and “when you’re sitting on the inside, it looks a little bit different than it looks on the outside,” he had heard.

Adidas, according to Gulden, is currently looking into claims made by former workers that Ye poisoned the workplace and that the sportswear firm was aware of his unsavory behavior but did little to safeguard staff.

In 2024, the CEO predicted, “we can start to establish a profitable firm again.” The CEO referred to 2023 as “a transition year.”

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Net sales for the fourth quarter of last year increased just 1.3%, to 5.21 billion euros

Net sales for the fourth quarter of last year increased just 1.3%, to 5.21 billion euros, over the same period in the previous year. The company cited a 50% decline in revenue in China and greater supply and shipping expenses, which pricing increases could not compensate for.

The Herzogenaurach, Germany-based corporation reported a net profit of 638 million euros for the entire year on revenues that increased 6% to 22.5 billion euros.

Adidas’ top sales and marketing executives were replaced, further upending its hierarchy. Following Roland Auschel’s retirement from the company after 33 years, Arthur Hoeld, now in charge of the Europe, Middle East, and Africa region, will take over as global sales chief.

Brian Grevy, the head of global brands, will retire on March 31. CEO Gulden will handle his marketing and product duties.

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SOURCE – (AP)

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Kiara Grace
Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics. Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Jason Kelce Smashes Football Fan’s Phone

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Jason Kelce Smashes College Football Fan's Phone

Retired Philadelphia Eagles center Jason Kelce destroyed a Penn State football fan’s phone after the alleged heckler called his brother, Travis Kelce, a fag.

In now-viral footage published on X (previously Twitter) on Saturday, Nov. 2, the retired Philadelphia Eagles great was seen accompanied by football fans outside Beaver Stadium in State College, Pa., for the Penn State-Ohio State game.

As the individual capturing the tape lifted a fist to Jason, 36, and called his name for a fist bump, another man nearby hurled the homophobic slur at the retired Philadelphia Eagles star.

Hey, Kelce. How does it feel that your brother is a queer dating Taylor Swift?” the man questioned, referring to Travis, 34, who has been seeing Swift since 2023. Jason turned around seconds later, snatched the man’s phone, and crushed it to the ground.

“Looked like a Penn State student was getting in Kelce’s face for no reason,” the original X user who submitted the video remarked. “Wild scene in State College.”

Additional footage on X shows Jason smashing the phone on asphalt before picking it up and walking away. The phone’s owner, wearing a Penn State hoodie at the time of the incident, was shown in many videos strolling closely behind Jason and recording him before the conflict occurred.

Another footage published on X, which appears to have been filmed after Jason shattered the man’s phone, showed the hooded Penn State supporter trudging through a mob to pick up his phone off the ground.

“Give me my phone, bro,” he seemed to say to Jason.

The NFL alum seized the gadget first, then stood in front of the man and asked, “Who’s the fag now?” Others appeared to interfere.

The incident occurred while Jason was at Beaver Stadium for an appearance on ESPN’s College GameDay. The Ohio State Buckeyes won Saturday’s game 20-13 over the Penn State Nittany Lions.

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Geoff Thomas
Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.
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Shaun White’s Proposal To Nina Dobrev Was Romantic Gold

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Shaun White, the Olympic snowboarding champion, already has an impressive medal tally, but his surprise proposal to Nina Dobrev deserves a gold medal.

On Wednesday, the couple announced their engagement on Instagram. Dobrev posted photographs of the two hugging under an arch of white roses and showing off her five-carat Lorraine Schwartz engagement ring.

“RIP boyfriend, hello fiancé,” Dobrev said in the caption.

However, the photographs only tell half the tale, as Shaun devised an elaborate plan to surprise Dobrev with his proposal.

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Shaun White’s Proposal To Nina Dobrev Was Romantic Gold

According to a Vogue interview published Wednesday, Shaun said he assembled a team of people from the couple’s inner circle and Vogue personnel to trick Dobrev into thinking she had been invited to an intimate dinner party with Anna Wintour.

White claimed that his publicist emailed Dobrev a forged invitation to the event, which was scheduled to take place at the Golden Swan in New York City.

Dobrev accepted the invitation, joking that Shaun made it “look so legitimate.”

He even asked Dobrev’s stylist to outfit her in Chanel for the event.

Dobrev said she recognized what was happening when she entered the venue and saw White standing beneath the flowery arch.

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Shaun’s Proposal To Nina Dobrev Was Romantic Gold

“I went into shock,” Dobrev admitted, later adding that White “said all the right things” before she agreed.

According to the publication, after Shaun proposed, the couple partied into the early morning hours with close friends and relatives.

“Best night of my life,” Shaun captioned his Instagram story on Wednesday.

The duo first became romantically involved in 2020, and they have since publicly recorded their relationship, globe vacations, and White’s Olympic farewell on social media.

SOURCE  | CNN

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Kiara Grace
Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics. Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.
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Hollywood Actress Teri Garr Passes Away at 79

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Hollywood Actress Teri Garr Passes Away at 79
Teri Garr, known for her roles in classics like "Young Frankenstein" and "Tootsie," has passed away at 79.

Hollywood actress Teri Garr, known for her roles in classics like “Young Frankenstein” and “Tootsie,” has passed away at 79. She died Tuesday of multiple sclerosis “surrounded by family and friends,” said publicist Heidi Schaeffer.

Admirers took to social media in her honor, with writer-director Paul Feig calling her “truly one of my comedy heroes. I couldn’t have loved her more” and screenwriter Cinco Paul saying: “Never the star, but always shining. She made everything she was in better.”

Throughout her career, the performer, often known as Terri, Terry, or Terry Ann, seemed destined for show business from a young age.

Her father was Eddie Garr, a well-known vaudeville comic, and her mother was Phyllis Lind, one of the original high-kicking Rockettes at New York’s Radio City Music Hall. Their daughter began dancing classes at six and was performing with the San Francisco and Los Angeles ballet companies by age fourteen.

She was 16 years old when she joined the road crew of “West Side Story” in Los Angeles, and she began starring in small roles in films as early as 1963.

In an interview from 1988, she described how she landed the role in “West Side Story.” After being rejected at her initial audition, she returned the following day dressed differently and was accepted.

Teri Garr, a comedian

Teri Garr then found steady work as a movie dancer, appearing in the chorus of nine Elvis Presley films, including “Viva Las Vegas,” “Roustabout,” and “Clambake.”

She has also appeared on various television shows, including “Star Trek,” “Dr. Kildare,” and “Batman,” and was a featured dancer on the rock ‘n’ roll music show “Shindig,” the rock concert performance “T.A.M.I.,” and a cast member of “The Sonny and Cher Comedy Hour.”

Her breakthrough role was as Gene Hackman’s girlfriend in Francis Ford Coppola’s 1974 thriller The Conversation. This led to an interview with Mel Brooks, who offered her the Gene Wilder’s German lab assistant role in Young Frankenstein if she could speak with a German accent.

“Cher had this German woman, Renata, making wigs, so I got the accent from her,” Garr once said.

The film established her as a great comic performer, with New Yorker film writer Pauline Kael calling her “the funniest neurotic dizzy dame on screen.”

Her big smile and off-center appeal helped her land roles in “Oh, God!” with George Burns and John Denver, “Mr. Mom” (as Michael Keaton’s wife), and “Tootsie,” in which she played the girlfriend who loses Dustin Hoffman to Jessica Lange and discovers he has dressed up as a woman to revive his career.

 A gift for spontaneous humor

Teri Garr, best known for comedy, has shown in films such as Close Encounters of the Third Kind, The Black Stallion, and The Escape Artist that she can also tackle drama.

She had a gift for spontaneous humor, frequently playing David Letterman’s foil during early guest appearances on N.B.C.’s “Late Night With David Letterman”.

Her appearances grew so frequent, and the pair’s good-natured bickering so convincing that rumors of romantic involvement circulated for a while. Years later, Letterman acknowledged those early appearances with helping the program become a success.

During those years, Garr began to experience “a little beeping or ticking” in her right leg. It started in 1983 and expanded to her right arm, but she thought she could handle it. By 1999, her symptoms had gotten so bad that she saw a doctor and was diagnosed with multiple sclerosis.

After disclosing her diagnosis, Garr became a spokesman for the National Multiple Sclerosis Society, giving hilarious remarks at events in the United States and Canada.

Source: AP

author avatar
Geoff Thomas
Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.
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