75 Global News Post 3
vanniel6
Photo Citation:
Euronews, & AP. (2023, March 8). Yeezy does it: Adidas’ split with Kanye West Hammers Profits. euronews. Retrieved March 25, 2023, from https://www.euronews.com/culture/2023/03/08/yeezy-does-it-adidas-split-with-kanye-west-hammers-profits
On March 3rd, 2023, it was announced on euronews that Adidas had officially ended any partnerships with Kanye West and his brand Yeezy beginning an era of looking ahead and addressing sustainability issues. Adidas is a German sportswear company and Yeezy brought in around 15% of the company’s net income. The breakup caused Adidas a net loss of 513 million euros in 2022. This split occurred after Kanye’s online controversy when he made several anti-semtic remarks on his social media, causing public outcry to pressure the international brand to cut ties with him. Adidas now is confronting the issues of what to do with the warehouse stock and the sustainability issues that would come with destroying them. Other options would include selling the rest to the public, donating them, or selling them to another company.
Most of the perspective shared in this article was from the Adidas corporation and those who are in opposition of Kanye West. The article discussed the overall positive reaction to the controversy and the possible future outcomes of the decision. From what I know about Germany, the country relies a lot of exports for their economy and Adidas is a huge corporation involved in that line of business (Nasr & Wagner, 2019).
The article also brings several related articles and links for context about Kanye’s scandal. I thought this provided a lot of helpful context to understand the rest of the article and the significance.
Article Citations:
Euronews, & AP. (2023, March 8). Yeezy does it: Adidas’ split with Kanye West Hammers Profits. euronews. Retrieved March 25, 2023, from https://www.euronews.com/culture/2023/03/08/yeezy-does-it-adidas-split-with-kanye-west-hammers-profits
Nasr, J., & Wagner, R. (2019, November 22). Germany dodges recession in third quarter thanks to exports, spending. Reuters. Retrieved March 24, 2023, from https://www.reuters.com/article/uk-germany-economy-gdp-idUKKBN1XW0KT