Adidas’ Top Shareholder to Question the $35 Billion Company Over Their Rough Split with Yeezy Collaborator Kanye West
Adidas may have made billions signing Kanye West but is continuing to lose millions now. The German company formed one of the most successful collaborations with a non-sport celebrity. Starting in 2013, the two collaborated on his Yeezy collection. People would queue up in line to buy his products, waiting for new launches to come. While Ye was always big, erratic, and unpredictable, things got more difficult for the company over time.
But collaborations of this level involve millions of dollars of investment and that means having to answer stakeholders. While Ye has moved on to launching his Yeezy 10 collection, Adidas still has a dilemma over what to do with all the unsold Yeezy products lying in the warehouse. To top it off, a major stakeholder is set to ask some hard questions about the company now.
Why Adidas is answerable over its soured relationship with Kanye West
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Continuing a successful collaboration takes more than selling products. It requires two parties to maintain their stature in society, as any issues can affect both of them. In the case of Yeezy, Ye’s actions affected Adidas and every stakeholder involved. According to FinancialTimes, a German-based investment firm called Union Investment will be questioning the German-born clothing company about its goof-up with the ‘Donda’ singer.
Janne Werning, the head of ESG, has a speech prepared in which he will demand answers. As per stakeholders, the company turned a blind eye to his behavior and had been doing so for years. Apparently, Ye would scream at the Adidas staff and throw books across the room. He would also show them explicit videos of his ex-wife Kim Kardashian and his stash of p*rn videos.
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But the last blow came with his anti-Semitic comments, which the German company could not turn a blind eye to.
What happens to Yeezy now?
There will be an investigation into when exactly did Adidas begins seeing an issue with Ye. As for now, they are deciding whether to burn, give away, or perhaps give away the profits earned from selling. As they find an answer to the $1.2 billion question, an inside look at Ye’s Yeezy 10 collection is already making a rave on the internet. It will be seen what the outcome of Thursday’s meeting will be.
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Do you think Adidas should have dealt with Ye’s behavior early on? Share your opinions in the comments.
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