<p>The Board of Control for Cricket in India (BCCI) has decided to upgrade its sponsorship policy which will see several brand categories stay away from the Indian Cricket team. According to the BCCI, it has planned to ban several categories of brands, which include alcohol, tobacco, and betting. This would see some of the traditional sponsorship brands stay away from sponsoring the Indian Cricket team at least for the near future.</p>

<p>BCCI shared a list of brand categories that are banned from applying for Indian cricket teams' title sponsorship. The Indian team entered the World Test Championship (WTC) final without a title sponsor as their contract with a tech-education company came to an end last financial year. On the flip side, they entered the WTC final with Adidas as their kit sponsor, while the ICC tournament rules anyway don’t permit teams from using the title sponsor in front of their shirt.</p>

<p><strong>In Annexure B of the document, BCCI listed the following brand categories which are banned:</strong></p>

<p>(A)&nbsp;Athleisure and Sportswear Manufacturer;</p>

<p>(B)&nbsp;Alcohol Products;</p>

<p>(C)&nbsp;Betting;</p>

<p>(D)&nbsp;Cryptocurrency;</p>

<p>(E)&nbsp;Real Money Gaming (Except Fantasy Sports Gaming);</p>

<p>(F)&nbsp;Tobacco; and</p>

<p>(G)&nbsp;one which is likely to offend public morals such as, including but not limited to, pornography.</p>

<p>In a tender notice released on Thursday, June 15, the BCCI plans to get a title sponsor, while it has&nbsp;already signed a mega-money deal with Adidas. The Indian team is considered one of the hottest properties in terms of financial ruling and guarantees the brand a big boost of revenue.</p>

<p><strong>ALSO READ |</strong>&nbsp;<a href="https://www.wionews.com/sports/ashes-2023-1st-test-england-vs-australia-preview-and-result-prediction-604796">Ashes 2023, 1st Test, England vs Australia - Preview and Result Prediction</a></p>

<h2><strong>BCCI releases tender</strong></h2>

<p>"The BCCI invites bids from reputed entities for acquiring the National Team Lead Sponsor rights," BCCI secretary Jay Shah said in a release.</p>

<p>"Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein shall be eligible to bid. It is clarified that merely purchasing the ITT does not entitle any person to bid," Shah stated.</p>

<p>As things stand, the Indian team can next be seen donning a new title sponsor&nbsp;in the West Indies tour next month. If everything goes right, India will have a new set of title and kit sponsors in a month. The new sponsorship deal will likely see the sponsor on the Indian kit for the 2023 ODI World Cup.</p>

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The Board of Control for Cricket in India (BCCI) has decided to upgrade its sponsorship policy which will see several brand categories stay away from the Indian Cricket team.

The Board of Control for Cricket in India (BCCI) has decided to upgrade its sponsorship policy which will see several brand categories stay away from the Indian Cricket team. According to the BCCI, it has planned to ban several categories of brands, which include alcohol, tobacco, and betting. This would see some of the traditional sponsorship brands stay away from sponsoring the Indian Cricket team at least for the near future. BCCI shared a list of brand categories that are banned from applying for Indian cricket teams' title sponsorship. The Indian team entered the World Test Championship (WTC) final without a title sponsor as their contract with a tech-education company came to an end last financial year. On the flip side, they entered the WTC final with Adidas as their kit sponsor, while the ICC tournament rules anyway don’t permit teams from using the title sponsor in front of their shirt. In Annexure B of the document, BCCI listed the following brand categories which are banned: (A) Athleisure and Sportswear Manufacturer; (B) Alcohol Products; (C) Betting; (D) Cryptocurrency; (E) Real Money Gaming (Except Fantasy Sports Gaming); (F) Tobacco; and (G) one which is likely to offend public morals such as, including but not limited to, pornography. In a tender notice released on Thursday, June 15, the BCCI plans to get a title sponsor, while it has already signed a mega-money deal with Adidas. The Indian team is considered one of the hottest properties in terms of financial ruling and guarantees the brand a big boost of revenue. ALSO READ | Ashes 2023, 1st Test, England vs Australia - Preview and Result Prediction BCCI releases tender "The BCCI invites bids from reputed entities for acquiring the National Team Lead Sponsor rights," BCCI secretary Jay Shah said in a release. "Any interested party wishing to submit a bid is required to purchase the ITT. However, only those satisfying the eligibility criteria set out in the ITT and subject to the other terms and conditions set out therein shall be eligible to bid. It is clarified that merely purchasing the ITT does not entitle any person to bid," Shah stated. As things stand, the Indian team can next be seen donning a new title sponsor in the West Indies tour next month. If everything goes right, India will have a new set of title and kit sponsors in a month. The new sponsorship deal will likely see the sponsor on the Indian kit for the 2023 ODI World Cup. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

BCCI to ban THESE brand categories from being Indian cricket teams' title sponsor | Know More

<p>German sportswear brand Adidas on Thursday, June 1 unveiled new jerseys for the Indian cricket team as they start a five-year partnership with the Board of Control for Cricket in India (BCCI). Adidas took to their Instagram handle to reveal the news which will see Team India don the new jerseys in the upcoming World Test Championship (WTC) final against Australia, starting June 7. The shades will see India have three different sets for all the formats with the white-ball kits having similar colour codes.</p>

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<h2><strong>Adidas partners with Team India</strong></h2>

<p>"An iconic moment. An iconic stadium. Introducing the new Team India Jerseys," Adidas wrote on its official Instagram handle on Thursday.</p>

<p>The kit partnership was made public in May as Adidas will provide jerseys to both men’s and women’s teams in different age groups. The shades of the kit remain blue for the white-ball format with white strips on the shoulders with one of the kits for either format on the darker side. The Test kit will have blue strips on the shoulder and will be first used in the upcoming World Test Championship (WTC) in the final in London.</p>

<p>"The Board of Control for Cricket in India (BCCI) &amp; Adidas has today announced a brand-new partnership as the kit sponsor for the BCCI. The contract, which runs through March 2028, will give Adidas exclusive rights for manufacturing kits across all formats of the game. adidas will be the sole supplier for all match, training &amp; travel wear for the BCCI- including the men’s, women’s &amp; youth teams. Starting June 2023, Team India will be seen in the three stripes for the very first time and will debut their new kit during the World Test Championship Finals," the BCCI release said.</p>

<p><strong>ALSO READ |</strong>&nbsp;<a href="https://www.wionews.com/sports/explained-how-can-beat-india-beat-australia-and-win-the-world-test-championship-final-599154">EXPLAINED - How can India beat Australia and win the World Test Championship Final</a></p>

<h2><strong>To provide kits for 2023, 2027 ODI World Cups</strong></h2>

<p>The kit sponsorship will&nbsp;run until 2028 with Adidas, during which they will be the official sponsors of the kit for the 2023 and 2027 ODI World Cup. They will also provide kits for the T20 World Cup in the USA and the West Indies in 2024 and the Champions Trophy in 2025.</p>

<p>The Indian players were seen donning the new training kits launched by Adidas on Thursday at the Arundel Castle Cricket Club in Sussex. The Indian team is based in Sussex for their training camp before they head to London to face Australia in the one-off final.</p>

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German sportswear brand Adidas on Thursday, June 1 unveiled new jerseys for the Indian cricket team as they start a five-year partnership with the Board of Control for Cricket in India (BCCI).

German sportswear brand Adidas on Thursday, June 1 unveiled new jerseys for the Indian cricket team as they start a five-year partnership with the Board of Control for Cricket in India (BCCI). Adidas took to their Instagram handle to reveal the news which will see Team India don the new jerseys in the upcoming World Test Championship (WTC) final against Australia, starting June 7. The shades will see India have three different sets for all the formats with the white-ball kits having similar colour codes. View this post on Instagram A post shared by adidas India (@adidasindia) Adidas partners with Team India "An iconic moment. An iconic stadium. Introducing the new Team India Jerseys," Adidas wrote on its official Instagram handle on Thursday. The kit partnership was made public in May as Adidas will provide jerseys to both men’s and women’s teams in different age groups. The shades of the kit remain blue for the white-ball format with white strips on the shoulders with one of the kits for either format on the darker side. The Test kit will have blue strips on the shoulder and will be first used in the upcoming World Test Championship (WTC) in the final in London. "The Board of Control for Cricket in India (BCCI) & Adidas has today announced a brand-new partnership as the kit sponsor for the BCCI. The contract, which runs through March 2028, will give Adidas exclusive rights for manufacturing kits across all formats of the game. adidas will be the sole supplier for all match, training & travel wear for the BCCI- including the men’s, women’s & youth teams. Starting June 2023, Team India will be seen in the three stripes for the very first time and will debut their new kit during the World Test Championship Finals," the BCCI release said. ALSO READ | EXPLAINED - How can India beat Australia and win the World Test Championship Final To provide kits for 2023, 2027 ODI World Cups The kit sponsorship will run until 2028 with Adidas, during which they will be the official sponsors of the kit for the 2023 and 2027 ODI World Cup. They will also provide kits for the T20 World Cup in the USA and the West Indies in 2024 and the Champions Trophy in 2025. The Indian players were seen donning the new training kits launched by Adidas on Thursday at the Arundel Castle Cricket Club in Sussex. The Indian team is based in Sussex for their training camp before they head to London to face Australia in the one-off final. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas unveils India's new-look jerseys ahead of WTC final in London

<p>On Friday, Adidas announced that it will soon begin selling its leftover Yeezy sneakers worth more than $1 billion. Yes, you read that right! So, if you wish to get your hands on a pair, you'll just have to wait till the end of this month.</p>

<p>The proceeds will&nbsp;be donated to various anti-racism groups including the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise &amp; Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd, says the&nbsp;German sportswear giant.</p>

<p>"After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products," said Adidas CEO Bjorn Gulden in a statement. "Selling and donating was the preferred option among all organisations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it."</p>

<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">adidas Yeezy Page loaded on India site earlier today<br />
<br />
Restock could be going down June 2023 👀 <a href="https://t.co/WffeY7fYns">pic.twitter.com/WffeY7fYns</a></p>
— SneakerAlert (@SneakerAlertHD) <a href="https://twitter.com/SneakerAlertHD/status/1659287681350660097?ref_src=twsrc%5Etfw">May 18, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<p>Ever since Adidas terminated&nbsp;its partnership with Ye, formerly known as Kanye West, in October 2022 because of his anti-semitic comments on social media and in interviews, Yeezy products have been unavailable to shoppers. This will be the first time since the incident the brand will restock the Yeezy collection.&nbsp;</p>

<p>The items to be sold on Adidas' website from May 31st include existing designs as well as designs that were in the works in 2022 for sale this year, the company said in the statement.</p>

<p>At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said.</p>

<p>The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023.</p>

<p><em>(With inputs from agencies)</em></p>

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On Friday, Adidas announced that it will soon begin selling its leftover Yeezy sneakers worth more than $1 billion. Yes, you read that right! So, if you wish to get your hands on a pair, you'll just have to wait till the end of this month.

On Friday, Adidas announced that it will soon begin selling its leftover Yeezy sneakers worth more than $1 billion. Yes, you read that right! So, if you wish to get your hands on a pair, you'll just have to wait till the end of this month. The proceeds will be donated to various anti-racism groups including the Anti-Defamation League, which fights antisemitism and other forms of discrimination, and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd, says the German sportswear giant. "After careful consideration, we have decided to begin releasing some of the remaining Adidas Yeezy products," said Adidas CEO Bjorn Gulden in a statement. "Selling and donating was the preferred option among all organisations and stakeholders we spoke to. There is no place in sport or society for hate of any kind and we remain committed to fighting against it." adidas Yeezy Page loaded on India site earlier today Restock could be going down June 2023 👀 pic.twitter.com/WffeY7fYns — SneakerAlert (@SneakerAlertHD) May 18, 2023 Ever since Adidas terminated its partnership with Ye, formerly known as Kanye West, in October 2022 because of his anti-semitic comments on social media and in interviews, Yeezy products have been unavailable to shoppers. This will be the first time since the incident the brand will restock the Yeezy collection. The items to be sold on Adidas' website from May 31st include existing designs as well as designs that were in the works in 2022 for sale this year, the company said in the statement. At Adidas’ annual shareholders meeting earlier this month, Gulden said the company had spent months trying to find solutions before deciding against destroying the items and to rather sell them to benefit various charities that were harmed by what Ye said. The company said Friday that the move has no immediate impact on the company’s current financial guidance for 2023. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas to start selling stockpile of Yeezy sneakers worth $1 billion later this month

<p dir="ltr">Adidas, the German sportswear giant, faces investor unrest ahead of its annual shareholder meeting on Thursday. Two prominent German investors plan to vote against its management and supervisory boards over their poor performance in 2022.&nbsp;</p>

<p dir="ltr">Although these votes are typically formalities in corporate Germany, investors have recently used them to express their dissatisfaction.</p>

<p dir="ltr">Deka Investment and Union Investment have expressed their frustration with Adidas'&nbsp;repeated crises, including the Yeezy collaboration with rapper and designer Kanye West, which imploded after the performer made a string of anti-Semitic remarks.</p>

<p dir="ltr">Adidas's supervisory board, chaired by Thomas Rabe, also faces criticism from shareholder proxy service Glass Lewis, which has urged&nbsp;investors to vote against it. Glass Lewis has criticised the company's handling of diversity matters and called for proof of a real change in the company's culture.</p>

<p>The past year has been difficult for Adidas, as earnings fell and personnel problems arose, leading to a 64 percent decline in its shares till November 2022.</p>

<p dir="ltr">Despite these challenges, Adidas hopes to turn things around with the appointment of Bjorn Gulden, who joined the company in January as the&nbsp;CEO. Gulden has already removed two members of Rorsted's management team and is expected to return Adidas to profitability&nbsp;while improving communication with investors.</p>

<p dir="ltr">Adidas's shares has&nbsp;gained around 65 percent since November 2022, when Gulden was first floated as a successor to Rorsted.</p>

<p dir="ltr">However, the company is still grappling with the issue of unsold Yeezy shoes, which put it in a predicament after it cut ties with Kanye West over his anti-Semitic comments.</p>

<p dir="ltr">According to a company-compiled consensus, Adidas is set to update investors on the unsold stock on May 5 when it reports first-quarter results, which are expected to show a 4 percent decline in net sales to $5.07 billion.</p>

<p dir="ltr">Adidas is currently engaged in discussions regarding Yeezy footwear, even reaching out to those whom Kanye West's controversial comments have negatively impacted. However, finding a resolution is proving to be a difficult task. Despite Adidas ceasing production, the value of Yeezy shoes in the resale market has skyrocketed, with some models doubling in price.</p>

<p dir="ltr">The company is&nbsp;yet to determine what to do with its unsold inventory. Some voices have suggested that if Adidas decides to sell the shoes, the profits should be donated towards the fight against antisemitism. The American Jewish Committee's&nbsp;Holly Huffnagle&nbsp;and the Anti-Defamation League have already expressed their readiness to collaborate with Adidas on this matter.</p>


Adidas, the German sportswear giant, faces investor unrest ahead of its annual shareholder meeting on Thursday. Two prominent German investors plan to vote against its management and supervisory boards over their poor performance in 2022.

Adidas, the German sportswear giant, faces investor unrest ahead of its annual shareholder meeting on Thursday. Two prominent German investors plan to vote against its management and supervisory boards over their poor performance in 2022. Although these votes are typically formalities in corporate Germany, investors have recently used them to express their dissatisfaction. Deka Investment and Union Investment have expressed their frustration with Adidas' repeated crises, including the Yeezy collaboration with rapper and designer Kanye West, which imploded after the performer made a string of anti-Semitic remarks. Adidas's supervisory board, chaired by Thomas Rabe, also faces criticism from shareholder proxy service Glass Lewis, which has urged investors to vote against it. Glass Lewis has criticised the company's handling of diversity matters and called for proof of a real change in the company's culture. The past year has been difficult for Adidas, as earnings fell and personnel problems arose, leading to a 64 percent decline in its shares till November 2022. Despite these challenges, Adidas hopes to turn things around with the appointment of Bjorn Gulden, who joined the company in January as the CEO. Gulden has already removed two members of Rorsted's management team and is expected to return Adidas to profitability while improving communication with investors. Adidas's shares has gained around 65 percent since November 2022, when Gulden was first floated as a successor to Rorsted. However, the company is still grappling with the issue of unsold Yeezy shoes, which put it in a predicament after it cut ties with Kanye West over his anti-Semitic comments. According to a company-compiled consensus, Adidas is set to update investors on the unsold stock on May 5 when it reports first-quarter results, which are expected to show a 4 percent decline in net sales to $5.07 billion. Adidas is currently engaged in discussions regarding Yeezy footwear, even reaching out to those whom Kanye West's controversial comments have negatively impacted. However, finding a resolution is proving to be a difficult task. Despite Adidas ceasing production, the value of Yeezy shoes in the resale market has skyrocketed, with some models doubling in price. The company is yet to determine what to do with its unsold inventory. Some voices have suggested that if Adidas decides to sell the shoes, the profits should be donated towards the fight against antisemitism. The American Jewish Committee's Holly Huffnagle and the Anti-Defamation League have already expressed their readiness to collaborate with Adidas on this matter.

The Yeezy dilemma: Can Adidas avert investor concerns after cutting ties with Kanye?

What is Adidas going to do with its millions of unsold pairs of Yeezy shoes? The brand recently dissolved its deal with Kanye West. Why did they do so? How did the rapper’s comments affect the brand? What are the events that followed?

Gravitas: Adidas Yeezy and the cost of investing in a star

<p>Adidas has announced that it will not burn the unsold merchandise from its now-defunct brand Yeezy which was in partnership with Kanye West. Instead, it will try to sell the stock and donate the money to those who were harmed by the rapper's comments.&nbsp;<br />
<br />
The German sportswear brand has been in crisis with the excess stock of Yeezy branch since last October when it announced to discontinue its partnership with Kanye West after he made anti-semitic comments on social media.&nbsp;<br />
<br />
The Yeezy shoes with a value of €1.2bn (£1bn) have been sitting in storage since being withdrawn from sale. The debacle led to Adidas's first annual loss in 31 years.&nbsp;</p>

<p>On Thursday, Bjørn Gulden, the company’s chief executive, told investors at the group’s annual shareholder meeting that destroying the goods was not the right move and the company was working on a plan for them to be sold. It was earlier being speculated that the brand was planning to destroy the excess stock.&nbsp;<br />
<br />
He said some of the proceeds would then go to unnamed charities that represented people who “were hurt” by the comment’s made by Ye.</p>

<p>“Burning the goods is not the solution … What we are trying to do now over time is to sell parts of this merchandise and donate money to the organisations (that were)&nbsp;hurt by Kanye’s statements,” Gulden said. “When we will do that and how we will do that is not clear yet, but we are working on those things.”<br />
<br />
He also defended the initial decision to collaborate with West and said “As difficult as he was, he is perhaps the most creative mind in our industry.”<br />
<br />
It is now being estimated that the company would mitigate a potential €500m hit to operating profits as a result of ditching Yeezy.<br />
&nbsp;</p>

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Adidas has announced that it will not burn the unsold merchandise from its now-defunct brand Yeezy which was in partnership with Kanye West. Instead, it will try to sell the stock and donate the money to those who were harmed by the rapper's comments.

Adidas has announced that it will not burn the unsold merchandise from its now-defunct brand Yeezy which was in partnership with Kanye West. Instead, it will try to sell the stock and donate the money to those who were harmed by the rapper's comments. The German sportswear brand has been in crisis with the excess stock of Yeezy branch since last October when it announced to discontinue its partnership with Kanye West after he made anti-semitic comments on social media. The Yeezy shoes with a value of €1.2bn (£1bn) have been sitting in storage since being withdrawn from sale. The debacle led to Adidas's first annual loss in 31 years. On Thursday, Bjørn Gulden, the company’s chief executive, told investors at the group’s annual shareholder meeting that destroying the goods was not the right move and the company was working on a plan for them to be sold. It was earlier being speculated that the brand was planning to destroy the excess stock. He said some of the proceeds would then go to unnamed charities that represented people who “were hurt” by the comment’s made by Ye. “Burning the goods is not the solution … What we are trying to do now over time is to sell parts of this merchandise and donate money to the organisations (that were) hurt by Kanye’s statements,” Gulden said. “When we will do that and how we will do that is not clear yet, but we are working on those things.” He also defended the initial decision to collaborate with West and said “As difficult as he was, he is perhaps the most creative mind in our industry.” It is now being estimated that the company would mitigate a potential €500m hit to operating profits as a result of ditching Yeezy. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas will not burn the unsold Yeezy shoes, instead sell the stock for charity

Adidas decides to sell Yeezy shoes from the sneaker line with Ye rather than burning them proceeds of which will be donated to charity. Adidas cut ties off with rapper Ye after an antisemitic row leading to a cost crisis of $500 million for the company.

Adidas comes up with a solution for Yeezy sneaker line with Ye than burning them

<p>Sportswear giant Adidas' much talked-about split from rapper Kanye West has come&nbsp;at a hefty cost. The German sportswear brand on Friday reported a first-quarter loss and booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier. &nbsp;<br />
<br />
The brand suffered a loss after it ended its highly successful Yeezy line- designed in collaboration with West.&nbsp;</p>

<p>But overall sales were not as bad as feared, with analysts seeing early signs of improving fortunes, and Adidas's share price rose 7.5 percent in the afternoon on the Frankfurt Stock Exchange.&nbsp;</p>

<p>Adidas halted its tie-up with West in October 2022 after he made a series of anti-Semitic outbursts on social media.&nbsp;</p>

<p>The loss of Yeezy, along with falling revenues for its lifestyle brands, "are of course hurting us," said new CEO Bjorn Gulden in a statement.&nbsp;</p>

<p>But there was no news Friday about what it would do with its huge stock of Yeezy trainers.&nbsp;</p>

<p>"The options are narrowing," Gulden told reporters after the results were released, but finding a solution will take time as there are "so many interested parties".</p>

<p>The company had announced in February that it could suffer an operating loss of as much as 700 million euros this year if decides to write off the value of its entire existing Yeezy inventory.</p>

<p><strong>- 'Bumpy year' -</strong><br />
<br />
Gulden, who took the reins of the company in January after joining from rival Puma, said time was needed to turn the company around.</p>

<p>"2023 will be a bumpy year with disappointing numbers, where maximising our short-term financial results is not our goal," he said.&nbsp;</p>

<p>The impact of the end of the West tie-up was most clearly felt in North America, where sales plummeted 20 percent during the quarter.&nbsp;</p>

<p>The company also did not do good business in China, a key market for Adidas. The market has been affected by lengthy Covid lockdowns. Adidas, though, witnessed gains in Latin America and other parts of the Asia-Pacific.<br />
But net sales came in almost flat at 5.28 billion euros, against market expectations for a fall, and Gulden said the quarter ended a "little better than we had expected".&nbsp;</p>

<p>He pointed to positive developments in some areas, such as in the popularity of its Samba, Gazelle and Campus trainers.<br />
<br />
(With agency inputs)</p>


Sportswear giant Adidas' much talked-about split from rapper Kanye West has come at a hefty cost. The German sportswear brand on Friday reported a first-quarter loss and booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier.

Sportswear giant Adidas' much talked-about split from rapper Kanye West has come at a hefty cost. The German sportswear brand on Friday reported a first-quarter loss and booked a net loss of 39 million euros ($43 million) from January to March, compared to a profit of 482 million euros in the period a year earlier. The brand suffered a loss after it ended its highly successful Yeezy line- designed in collaboration with West. But overall sales were not as bad as feared, with analysts seeing early signs of improving fortunes, and Adidas's share price rose 7.5 percent in the afternoon on the Frankfurt Stock Exchange. Adidas halted its tie-up with West in October 2022 after he made a series of anti-Semitic outbursts on social media. The loss of Yeezy, along with falling revenues for its lifestyle brands, "are of course hurting us," said new CEO Bjorn Gulden in a statement. But there was no news Friday about what it would do with its huge stock of Yeezy trainers. "The options are narrowing," Gulden told reporters after the results were released, but finding a solution will take time as there are "so many interested parties". The company had announced in February that it could suffer an operating loss of as much as 700 million euros this year if decides to write off the value of its entire existing Yeezy inventory. - 'Bumpy year' - Gulden, who took the reins of the company in January after joining from rival Puma, said time was needed to turn the company around. "2023 will be a bumpy year with disappointing numbers, where maximising our short-term financial results is not our goal," he said. The impact of the end of the West tie-up was most clearly felt in North America, where sales plummeted 20 percent during the quarter. The company also did not do good business in China, a key market for Adidas. The market has been affected by lengthy Covid lockdowns. Adidas, though, witnessed gains in Latin America and other parts of the Asia-Pacific. But net sales came in almost flat at 5.28 billion euros, against market expectations for a fall, and Gulden said the quarter ended a "little better than we had expected". He pointed to positive developments in some areas, such as in the popularity of its Samba, Gazelle and Campus trainers. (With agency inputs)

Adidas posts loss as Kanye West split 'hurts' business

Here, we bring you the news that is trending across WION's social media platforms - Losing your zen at work: The mental health struggle, 'Godfather of AI' says Elon Musk and White House requesting for his help, Adidas faces investor unrest.

The mental heath struggle at work | Adidas faces investor unrest | Trending On WION

<p>Sportswear firm Adidas's commercial fall-out with American rapper and fashion mogul Ye, formerly known as Kanye West, and his brainchild Yeezy, has led to a major decline in the company's net sales.&nbsp;The sportswear giant is now saying that the ending of the collaboration is "hurting" the business, costing it $441 million (€400&nbsp;million) in lost sales, according to reports.</p>

<p>In the first three months of the year, the company's&nbsp;total revenue fell by 1 per cent because it distanced itself from the rapper&nbsp;after his largely condemned anti-Semitic remarks, reported BBC.&nbsp;</p>

<p>In its latest results, Adidas said sales in North America fell by 20 per cent as the region was particularly affected by the Yeezy split.</p>

<p>Adidas chief executive Bjorn Gulden told BBC that the loss of Yeezy is "of course hurting" them. And, that if it decided not to "repurpose" its remaining unsold Yeezy stock, this would hit its operating profit by $554 million (€500 million) this year.</p>

<p>Gulden added that&nbsp;Adidas was "getting closer and closer to making a decision" on what do to with the $1.3 billion worth of unsold Yeezy sneakers stacked up in warehouses and "options are narrowing".&nbsp;But with "so many interested parties"&nbsp;involved in the discussions, they are yet to reach a decision, as of now.</p>

<p>Also read:&nbsp;<a href="https://www.wionews.com/india-news/kerala-hc-refuses-to-ban-controversial-film-the-kerala-story-rejects-pleas-589179">Kerala HC refuses to ban controversial film ‘The Kerala Story’, rejects pleas</a></p>

<p>Speaking about the lawsuit filed by investors who claim Adidas didn't address the rapper's problematic behaviour for years, the company said that it rejected these "unfounded claims", adding that it would take "all necessary measures to vigorously defend" itself.</p>

<p>Investors alleged in the lawsuit that Adidas executives failed to limit financial losses and take precautionary measures in time.</p>

<p>Despite the dip, the overall sales were better than what analysts had predicted. The latest report says that sales were up 9 per cent when the impact of the Yeezy split was excluded. And, the company has reported a higher-than-expected operating profit of $66 million (€60 million).</p>

<p>The company cut its ties with Ye in October last year following major backlash for his anti-Semitic comments and erratic behaviour. Later, several distasteful things came to light, with some former employers accusing Ye of&nbsp;using "mind games", watching&nbsp;pornography in front of employees, and bullying.</p>

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Sportswear firm Adidas's commercial fall-out with American rapper and fashion mogul Ye, formerly known as Kanye West, and his brainchild Yeezy, has led to a major decline in the company's net sales.

Sportswear firm Adidas's commercial fall-out with American rapper and fashion mogul Ye, formerly known as Kanye West, and his brainchild Yeezy, has led to a major decline in the company's net sales. The sportswear giant is now saying that the ending of the collaboration is "hurting" the business, costing it $441 million (€400 million) in lost sales, according to reports. In the first three months of the year, the company's total revenue fell by 1 per cent because it distanced itself from the rapper after his largely condemned anti-Semitic remarks, reported BBC. In its latest results, Adidas said sales in North America fell by 20 per cent as the region was particularly affected by the Yeezy split. Adidas chief executive Bjorn Gulden told BBC that the loss of Yeezy is "of course hurting" them. And, that if it decided not to "repurpose" its remaining unsold Yeezy stock, this would hit its operating profit by $554 million (€500 million) this year. Gulden added that Adidas was "getting closer and closer to making a decision" on what do to with the $1.3 billion worth of unsold Yeezy sneakers stacked up in warehouses and "options are narrowing". But with "so many interested parties" involved in the discussions, they are yet to reach a decision, as of now. Also read: Kerala HC refuses to ban controversial film ‘The Kerala Story’, rejects pleas Speaking about the lawsuit filed by investors who claim Adidas didn't address the rapper's problematic behaviour for years, the company said that it rejected these "unfounded claims", adding that it would take "all necessary measures to vigorously defend" itself. Investors alleged in the lawsuit that Adidas executives failed to limit financial losses and take precautionary measures in time. Despite the dip, the overall sales were better than what analysts had predicted. The latest report says that sales were up 9 per cent when the impact of the Yeezy split was excluded. And, the company has reported a higher-than-expected operating profit of $66 million (€60 million). The company cut its ties with Ye in October last year following major backlash for his anti-Semitic comments and erratic behaviour. Later, several distasteful things came to light, with some former employers accusing Ye of using "mind games", watching pornography in front of employees, and bullying. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas suffers major loss post Kanye West, Yeezy split; sales cut by $441 million in Q1

When Adidas' shareholders meet next week, two prominent German investors announced their intention to vote against Adidas AG's management. The Yeezy crisis and poor sales are the top reasons for investors' frustration.

Adidas faces investor unrest

Adidas has ended its fashion collaboration with Beyoncé, according to reports. That would be the second high-profile breakup between Adidas and a celebrity partner, following the German sportswear giant's termination of its partnership with Kanye West due to his antisemitic remarks.

Adidas ends partnership with Beyonce, says reports

<p>A partnership that started in 2018 between Beyoncé and Adidas may soon come to an end! According to reports, the two have decided to part ways because of declining sales.&nbsp;A source close to the situation recently told a publication that the Grammy-winning entrepreneur and the German lifestyle brand have mutually agreed to part ways. Official confirmation of the same is currently awaited.</p>

<p>For those unaware, Beyoncé entered a creative partnership with Adidas in 2018 and together they relaunched her Ivy Park activewear line and also developed new footwear and apparel.&nbsp;</p>

<p>According to a report by The Hollywood Reporter, there have apparently been major creative differences between Ivy Park and Adidas, and the 41-year-old singer-entrepreneur is reportedly looking to reclaim her brand, chart her own path and maintain creative freedom.</p>

<p>According to The Wall Street Journal, Beyoncé's custom clothing line fell way below its 2022 sales projections of $250 million. The year closed at roughly $40 million for the brand.</p>

<p>The numbers were considerably lower than the brand's 2021 tally of $93 million.</p>

<p>Beyoncé's contract will be getting over at the end of this year. And, she is currently&nbsp;on track to earn her $20 million annual salary.</p>

<p>Beyoncé debuted Ivy Park in 2016 as a joint venture with Sir Philip Green of Topshop. Their 50-50 partnership ended in 2018, and Beyoncé gained full ownership of Ivy Park.</p>

<p>Back in January, Beyoncé previewed her latest Adidas x Ivy Park collaboration,&nbsp;Park Trail, in Dubai. A day later she was seen performing at a private concert in the city. It marked her first live show in four years.</p>

<p>Also read:&nbsp;<a href="https://www.wionews.com/entertainment/american-actress-sheryl-lee-ralph-alleges-she-was-sexually-assaulted-by-a-famous-tv-judge-575166">American actress Sheryl Lee Ralph alleges she was sexually assaulted by a 'famous TV judge'</a></p>

<p>So far, 2023 is going great for Queen B!&nbsp;Last month, she made history and became the most-awarded artist in Grammy's history after winning her 32nd honour. In May, she will be launching her Renaissance World Tour in Stockholm. She will later perform through Europe, with stops in Cardiff, Edinburgh, Sunderland, Paris, London, Marseille, Amsterdam, Warsaw and more.</p>

<p>Beyoncé will also perform in&nbsp;North America with shows in Toronto, Vancouver, Atlanta, Las Vegas, Los Angeles, Boston, Charlotte, Detroit, Miami, Minneapolis, Nashville, Philadelphia, San Francisco, the New York City metro area and her hometown of Houston. She will wrap up the tour&nbsp;in New Orleans.</p>

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A partnership that started in 2018 between Beyoncé and Adidas may soon come to an end! According to reports, the two have decided to part ways because of declining sales.

A partnership that started in 2018 between Beyoncé and Adidas may soon come to an end! According to reports, the two have decided to part ways because of declining sales. A source close to the situation recently told a publication that the Grammy-winning entrepreneur and the German lifestyle brand have mutually agreed to part ways. Official confirmation of the same is currently awaited. For those unaware, Beyoncé entered a creative partnership with Adidas in 2018 and together they relaunched her Ivy Park activewear line and also developed new footwear and apparel. According to a report by The Hollywood Reporter, there have apparently been major creative differences between Ivy Park and Adidas, and the 41-year-old singer-entrepreneur is reportedly looking to reclaim her brand, chart her own path and maintain creative freedom. According to The Wall Street Journal, Beyoncé's custom clothing line fell way below its 2022 sales projections of $250 million. The year closed at roughly $40 million for the brand. The numbers were considerably lower than the brand's 2021 tally of $93 million. Beyoncé's contract will be getting over at the end of this year. And, she is currently on track to earn her $20 million annual salary. Beyoncé debuted Ivy Park in 2016 as a joint venture with Sir Philip Green of Topshop. Their 50-50 partnership ended in 2018, and Beyoncé gained full ownership of Ivy Park. Back in January, Beyoncé previewed her latest Adidas x Ivy Park collaboration, Park Trail, in Dubai. A day later she was seen performing at a private concert in the city. It marked her first live show in four years. Also read: American actress Sheryl Lee Ralph alleges she was sexually assaulted by a 'famous TV judge' So far, 2023 is going great for Queen B! Last month, she made history and became the most-awarded artist in Grammy's history after winning her 32nd honour. In May, she will be launching her Renaissance World Tour in Stockholm. She will later perform through Europe, with stops in Cardiff, Edinburgh, Sunderland, Paris, London, Marseille, Amsterdam, Warsaw and more. Beyoncé will also perform in North America with shows in Toronto, Vancouver, Atlanta, Las Vegas, Los Angeles, Boston, Charlotte, Detroit, Miami, Minneapolis, Nashville, Philadelphia, San Francisco, the New York City metro area and her hometown of Houston. She will wrap up the tour in New Orleans. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Beyonce and Adidas mutually agree to severe business ties after massive decline in sales: Report

Adidas cut ties with Yeezy in October 2022 after founder Ye, formerly known as Kanye West, posted what the company viewed to be anti-Semitic comments on social media. On 24 February 2023, the two entities reportedly reached a new agreement to sell leftover Yeezy stock worth $500m (£417m). The sportwear giant's full-year operating profits for the 12 months ended 31 December 2022 plummeted from just under €2bn in (£1.8bn) in 2021 to €669m (£596m) in 2022, despite sales increasing by 6% to €22.5bn (£20bn) year on year.

Adidas Profit falls 83% after split with Yeezy

<p>If Adidas does not sell the existing merchandise associated with Ye, formerly known as Kanye West, the German company's full-year revenue may decrease by 1.2 billion euros (about $1.28 billion), a profit warning issued on Thursday said. The loss may be even greater if Adidas does not "repurpose" any of the unsold Yeezy merchandise. Adidas had branded the merchandise associated with Ye as Yeezy.</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/entertainment/please-stop-celebrities-call-out-kanye-west-over-his-over-anti-semitic-post-524162">Please stop! Celebrities slam Kanye West over his anti-Semitic post</a></strong></p>

<p>The company cut ties with Ye after his antisemitic remarks created a global uproar and stunned the defining attributes of pop culture.&nbsp;</p>

<h2><strong>Adidas' Yeezy crisis: What are company's options?</strong></h2>

<p>Companies often consider reselling inventory at a discount, donating or upcycling when they are faced by the challenge of getting rid of unwanted and leftover products.&nbsp;</p>

<p>Experts cited in the US media say that the Yeezy challenge faced by Adidas is unique since enough reputational damage has been done by the man who was associated with its design.</p>

<p><strong>ALSO WATCH |&nbsp;<a href="https://www.wionews.com/videos/wion-fineprint-adidas-severs-ties-with-kanye-west-528325">WION Fineprint | ADIDAS severs ties with Kanye West</a></strong></p>

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<p>"There's no way to get out of this gracefully or profitably," Matt Powell, a footwear retail expert who has worked with Adidas, was quoted as saying by NPR. "The question is, how can they lighten the bad things that are going to happen?"</p>

<p>The Yeezy line is also tricky to refashion because of its distinct designs.</p>

<p>Companies such as Burberry, Coach, and H&amp;M have been criticised in previous years for disposing of wearable apparel.</p>

<p>"We have&nbsp;seen that happen with other luxury brands out there who didn't want to see their product discounted at the end of the season," Powell said.</p>

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If Adidas does not sell the existing merchandise associated with Ye, formerly known as Kanye West, the German company's full-year revenue may decrease by 1.2 billion euros (about $1.

If Adidas does not sell the existing merchandise associated with Ye, formerly known as Kanye West, the German company's full-year revenue may decrease by 1.2 billion euros (about $1.28 billion), a profit warning issued on Thursday said. The loss may be even greater if Adidas does not "repurpose" any of the unsold Yeezy merchandise. Adidas had branded the merchandise associated with Ye as Yeezy. ALSO READ | Please stop! Celebrities slam Kanye West over his anti-Semitic post The company cut ties with Ye after his antisemitic remarks created a global uproar and stunned the defining attributes of pop culture. Adidas' Yeezy crisis: What are company's options? Companies often consider reselling inventory at a discount, donating or upcycling when they are faced by the challenge of getting rid of unwanted and leftover products. Experts cited in the US media say that the Yeezy challenge faced by Adidas is unique since enough reputational damage has been done by the man who was associated with its design. ALSO WATCH | WION Fineprint | ADIDAS severs ties with Kanye West × "There's no way to get out of this gracefully or profitably," Matt Powell, a footwear retail expert who has worked with Adidas, was quoted as saying by NPR. "The question is, how can they lighten the bad things that are going to happen?" The Yeezy line is also tricky to refashion because of its distinct designs. Companies such as Burberry, Coach, and H&M have been criticised in previous years for disposing of wearable apparel. "We have seen that happen with other luxury brands out there who didn't want to see their product discounted at the end of the season," Powell said. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas may lose $533mn if it does not repurpose products associated with Ye aka Kanye West

<p>Adidas has lost a legal battle to try to stop a luxury designer from using its signature stripes. The sportswear giant claimed that Thom Browne Inc.'s four stripes were strikingly similar to its three stripes, as reported by the BBC.&nbsp;Among other factors, Browne pointed out that his brand had a distinct number of stripes, making it unlikely that customers would confuse it with Adidas.</p>

<p>Browne told The Associated Press that he hopes the preservation of his striped pattern on luxury athletic clothing and accessories inspires others whose work is undermined&nbsp;by larger clothing brands.&nbsp;</p>

<p>“It was important to fight and tell my story," Browne told The Associated Press after a Manhattan federal court jury sided with him. Adidas had claimed that the striped designs used by Thom Browne Inc. were too similar to its own three stripes.</p>

<p>“And I think it’s more important and bigger than me because I think I was fighting for every designer that creates something and has a bigger company come after them later,” he said.</p>

<p>Adidas, who was pursuing close to $8 million in disgorgement and damages, made it known that it might challenge the rulings. Adidas spokesperson Rich Efrus told the Associated Press in an email that they are upset with the ruling and will continue to vigilantly protect their intellectual property, including filing any necessary appeals.</p>

<p><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sportswear-giant-adidas-loses-court-battle-over-trademark-infringement-552340/embed" style="width:100%;max-width:560px;" width="560"></iframe></p>

<h2><strong>What is the legal between Adidas and&nbsp;Thom Browne Inc? A brief timeline</strong></h2>

<p><strong>2001: </strong>Thom Browne debuts his own made-to-measure menswear brand, four years after relocating to New York to pursue a career in fashion.&nbsp;He held positions as a designer for Club Monaco, a salesperson for Giorgio Armani, and a tailor before launching his own collection.</p>

<p><strong>2003:</strong> Browne establishes his first storefront in New York City.</p>

<p><strong>May 2007:</strong> Browne changed his jacket's three-stripe pattern to four stripes after Adidas objected that it was too similar to their own.</p>

<p><strong>2018:</strong> The popularity of Browne's brand grows as it enters the sportswear market.&nbsp;Italian luxury fashion house Ermenegildo Zegna acquires an 85 per cent&nbsp;stake in the brand.&nbsp;</p>

<p><strong>June 2021: </strong>Thom Browne is sued by Adidas, which claims “Despite Thom Browne’s knowledge of Adidas’s rights in the famous Three-Stripe Mark, Thom Browne has expanded its product offerings far beyond formal wear and business attire and is now offering for sale and selling athletic-style apparel and footwear featuring two, three, or four parallel stripes in a manner that is confusingly similar to Adidas’s Three-Stripe Mark.”</p>

<p><img alt="picture" data-entity-type="file" data-entity-uuid="9cacd350-27f8-4b1e-99b0-dec58955b226" src="//cdn.wionews.com/sites/default/files/inline-images/2000%20%281%29.jpeg" /></p>

<p><em><strong>Thom Browne's collection being&nbsp;taken inside the court. Photo credits: AP</strong></em></p>

<h2><strong>What were Thom Browne’s winning arguments?</strong></h2>

<p>The premium brand Thom Browne Inc. caters to a very different demographic and operates at a totally different price range. For&nbsp;instance, a pair of women's compression tights sold by Browne retails for US$725, but the same item sold by Adidas costs less than US$100.</p>

<p><img alt="picture" data-entity-type="file" data-entity-uuid="fb6b09a1-f997-48c5-8532-a05417bd00f5" src="//cdn.wionews.com/sites/default/files/inline-images/2000%20%282%29.jpeg" /></p>

<p><em><strong>Browne wearing socks with four stripes outside the courtroom. Photo credits: AP</strong></em></p>

<p>The former competitive swimmer used his lifetime passion for sports to explain why he makes sportswear, adding that varsity sports at the collegiate level served as inspiration for his usage of stripes.&nbsp;His strongest argument being—Why Adidas waited an entire decade to contest Browne's stripes design?&nbsp;</p>

<h2><strong>Adidas's claim on stripes: Why does it keep suing brands over it?</strong></h2>

<p>The three stripes are now found on almost all Adidas products. Adolf Dassler, the company's founder, originally used them on shoes in the 1950s, when they first gained popularity. This isn't the first time that Adidas has taken legal action against another brand for copying it in any form.</p>

<p>Adidas sued Forever 21 several times between 2006 and 2017 before reaching settlements. Adidas sued Juicy Couture over its designs in 2009 and again in 2017. It filed a lawsuit against Marc Jacobs in 2015 over the four-stripe pattern. Beyond the sphere of fashion, it engaged in trademark conflicts.&nbsp;&nbsp;In 2017, after being challenged by Adidas, Tesla withdrew its intended trademark for the Model 3 electric vehicle.</p>

<p><em>(With inputs from agencies)</em></p>

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<p><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe></p>


Adidas has lost a legal battle to try to stop a luxury designer from using its signature stripes. The sportswear giant claimed that Thom Browne Inc.'s four stripes were strikingly similar to its three stripes, as reported by the BBC.

Adidas has lost a legal battle to try to stop a luxury designer from using its signature stripes. The sportswear giant claimed that Thom Browne Inc.'s four stripes were strikingly similar to its three stripes, as reported by the BBC. Among other factors, Browne pointed out that his brand had a distinct number of stripes, making it unlikely that customers would confuse it with Adidas. Browne told The Associated Press that he hopes the preservation of his striped pattern on luxury athletic clothing and accessories inspires others whose work is undermined by larger clothing brands. “It was important to fight and tell my story," Browne told The Associated Press after a Manhattan federal court jury sided with him. Adidas had claimed that the striped designs used by Thom Browne Inc. were too similar to its own three stripes. “And I think it’s more important and bigger than me because I think I was fighting for every designer that creates something and has a bigger company come after them later,” he said. Adidas, who was pursuing close to $8 million in disgorgement and damages, made it known that it might challenge the rulings. Adidas spokesperson Rich Efrus told the Associated Press in an email that they are upset with the ruling and will continue to vigilantly protect their intellectual property, including filing any necessary appeals. What is the legal between Adidas and Thom Browne Inc? A brief timeline 2001: Thom Browne debuts his own made-to-measure menswear brand, four years after relocating to New York to pursue a career in fashion. He held positions as a designer for Club Monaco, a salesperson for Giorgio Armani, and a tailor before launching his own collection. 2003: Browne establishes his first storefront in New York City. May 2007: Browne changed his jacket's three-stripe pattern to four stripes after Adidas objected that it was too similar to their own. 2018: The popularity of Browne's brand grows as it enters the sportswear market. Italian luxury fashion house Ermenegildo Zegna acquires an 85 per cent stake in the brand. June 2021: Thom Browne is sued by Adidas, which claims “Despite Thom Browne’s knowledge of Adidas’s rights in the famous Three-Stripe Mark, Thom Browne has expanded its product offerings far beyond formal wear and business attire and is now offering for sale and selling athletic-style apparel and footwear featuring two, three, or four parallel stripes in a manner that is confusingly similar to Adidas’s Three-Stripe Mark.” Thom Browne's collection being taken inside the court. Photo credits: AP What were Thom Browne’s winning arguments? The premium brand Thom Browne Inc. caters to a very different demographic and operates at a totally different price range. For instance, a pair of women's compression tights sold by Browne retails for US$725, but the same item sold by Adidas costs less than US$100. Browne wearing socks with four stripes outside the courtroom. Photo credits: AP The former competitive swimmer used his lifetime passion for sports to explain why he makes sportswear, adding that varsity sports at the collegiate level served as inspiration for his usage of stripes. His strongest argument being—Why Adidas waited an entire decade to contest Browne's stripes design? Adidas's claim on stripes: Why does it keep suing brands over it? The three stripes are now found on almost all Adidas products. Adolf Dassler, the company's founder, originally used them on shoes in the 1950s, when they first gained popularity. This isn't the first time that Adidas has taken legal action against another brand for copying it in any form. Adidas sued Forever 21 several times between 2006 and 2017 before reaching settlements. Adidas sued Juicy Couture over its designs in 2009 and again in 2017. It filed a lawsuit against Marc Jacobs in 2015 over the four-stripe pattern. Beyond the sphere of fashion, it engaged in trademark conflicts. In 2017, after being challenged by Adidas, Tesla withdrew its intended trademark for the Model 3 electric vehicle. (With inputs from agencies) WATCH WION LIVE HERE:

Not all stripes are Adidas stripes: A look at the legal battle between luxury designer Thom Browne and Adidas

Sportswear Giant Adidas has lost a court battle over its famous three-stripes logo. The company had in fact sued the fashion designer for trademark infringement.

Sportswear giant Adidas loses court battle over Trademark infringement

The rapper and business mogul Kanye West has been accused of misconduct. Former employees of Yeezy and Adidas have claimed that he showed the staff porn, along with explicit images of his ex-wife Kim Kardashian.

WION Fineprint: Kanye showed porn to former employees of Yeezy and Adidas?

<p>On Thursday, Adidas AG announced that the company is launching an investigation into allegations of inappropriate behaviour by Kanye West, based on an anonymous tip and a report.&nbsp;It was previously reported that the rapper played pornography in front of&nbsp;Adidas staff in meetings&nbsp;and had a discussion about porn in formal setups.&nbsp;He is also accused of showing an intimate photo of his ex-wife Kim Kardashian during job interviews.</p>

<p>"It is currently not clear whether the accusations made in an anonymous letter are true," Adidas said in a statement. "However, we take these allegations very seriously and have taken the decision to launch an independent investigation of the matter immediately to address the allegations."</p>

<p>Adidas' former employees, who were involved with 'Yeezy', had previously released a letter alleging that Adidas executives were fully aware of Ye's behaviour but chose to turn&nbsp;a blind eye and turn off their moral compass.</p>

<p>According to a Rolling Stone report, which cited unnamed former staff, the rapper used intimidation tactics and mind games&nbsp;to control the employees and his actions were often directed towards women.</p>

<p>The report also featured excerpts from the open letter addressed to the shoe company by some former employees who were fed up with Ye's behaviour towards them.&nbsp;The open letter detailed recollections of West’s alleged behaviour with former staff members.&nbsp;</p>

<p>In the letter, the ex-Yeezy employees had also urged Adidas to address "the toxic and chaotic environment that Kanye West had created".</p>

<p>The latest&nbsp;expose by Rolling Stones also includes stories of the rapper belittling or bullying staffers.</p>

<p>Last month,&nbsp;Adidas terminated its lucrative tie-up with West after a series of anti-Semitic outbursts by the star.&nbsp; At the time, the company said his comments were "unacceptable, hateful and dangerous".</p>

<p>The sports outfitter took a heavy financial blow from the move, which it forecast would cut its 2022 net income in half.&nbsp;</p>

<p>In its latest statement released on Thursday, Adidas said it has been and continues to be "actively engaged in conversations with our employees about the events that lead to our decision to end the partnership. "They have our full support and as we're working through the details of the termination," the statement read.</p>

<p>Adidas began a review of its relationship with West after he appeared at a Paris fashion show wearing a shirt emblazoned with "White Lives Matter", a slogan created as a backlash to the Black Lives Matter movement.</p>

<p>Days later he was locked out of Twitter and Instagram over anti-Semitic threats.</p>

<p>Also read:&nbsp;<a href="https://www.wionews.com/entertainment/hollywood/news-cancelled-bruce-almighty-sequel-titled-brucifer-had-jim-carreys-character-making-a-deal-with-satan-537187">Cancelled 'Bruce Almighty' sequel titled 'Brucifer' had Jim Carrey's character making a deal with Satan</a></p>

<p>Along with Beyonce, Stella McCartney and Pharrell Williams, West has been one of the top names used by Adidas to boost sales, especially online. But rights campaigners and entertainment world figures had heaped pressure on Adidas to stop working with the rapper.</p>

<p>US clothing company Gap and Paris-based fashion house Balenciaga have also recently ended tie-ups with West.</p>

<p><em>(With inputs from agencies)</em></p>

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On Thursday, Adidas AG announced that the company is launching an investigation into allegations of inappropriate behaviour by Kanye West, based on an anonymous tip and a report.

On Thursday, Adidas AG announced that the company is launching an investigation into allegations of inappropriate behaviour by Kanye West, based on an anonymous tip and a report. It was previously reported that the rapper played pornography in front of Adidas staff in meetings and had a discussion about porn in formal setups. He is also accused of showing an intimate photo of his ex-wife Kim Kardashian during job interviews. "It is currently not clear whether the accusations made in an anonymous letter are true," Adidas said in a statement. "However, we take these allegations very seriously and have taken the decision to launch an independent investigation of the matter immediately to address the allegations." Adidas' former employees, who were involved with 'Yeezy', had previously released a letter alleging that Adidas executives were fully aware of Ye's behaviour but chose to turn a blind eye and turn off their moral compass. According to a Rolling Stone report, which cited unnamed former staff, the rapper used intimidation tactics and mind games to control the employees and his actions were often directed towards women. The report also featured excerpts from the open letter addressed to the shoe company by some former employees who were fed up with Ye's behaviour towards them. The open letter detailed recollections of West’s alleged behaviour with former staff members. In the letter, the ex-Yeezy employees had also urged Adidas to address "the toxic and chaotic environment that Kanye West had created". The latest expose by Rolling Stones also includes stories of the rapper belittling or bullying staffers. Last month, Adidas terminated its lucrative tie-up with West after a series of anti-Semitic outbursts by the star. At the time, the company said his comments were "unacceptable, hateful and dangerous". The sports outfitter took a heavy financial blow from the move, which it forecast would cut its 2022 net income in half. In its latest statement released on Thursday, Adidas said it has been and continues to be "actively engaged in conversations with our employees about the events that lead to our decision to end the partnership. "They have our full support and as we're working through the details of the termination," the statement read. Adidas began a review of its relationship with West after he appeared at a Paris fashion show wearing a shirt emblazoned with "White Lives Matter", a slogan created as a backlash to the Black Lives Matter movement. Days later he was locked out of Twitter and Instagram over anti-Semitic threats. Also read: Cancelled 'Bruce Almighty' sequel titled 'Brucifer' had Jim Carrey's character making a deal with Satan Along with Beyonce, Stella McCartney and Pharrell Williams, West has been one of the top names used by Adidas to boost sales, especially online. But rights campaigners and entertainment world figures had heaped pressure on Adidas to stop working with the rapper. US clothing company Gap and Paris-based fashion house Balenciaga have also recently ended tie-ups with West. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Adidas to launch probe into misconduct allegations against Kanye West

Adidas has ended its partnership with Ye - the rapper who was formally known as Kanye West. Fashion House Balenciaga, studio MRC Entertainment and talent agency CAA have also snapped ties with the artist. Molly Gambhir tells you why.

Gravitas: Why Adidas dumped Kanye West

<p>A day after Adidas <a href="https://www.wionews.com/entertainment/kanye-west-no-longer-a-billionaire-as-adidas-terminates-partnership-528479">ended </a>its&nbsp;multi-million deal with Kanye West over his anti-Semitic comments, he showed up uninvited at the footware maker Skechers' office&nbsp;in Los Angeles,&nbsp;California, presumably in hope of a new deal.&nbsp;<br />
<br />
The 'Gold Digger' rapper was escorted out of the building after having a brief conversation with two officials, the organisation said in a statement.&nbsp;<br />
<br />
It said the rapper, who now goes by the name Ye, arrived at their office building ''unannounced and without invitation."&nbsp;<br />
<br />
<a href="https://www.wionews.com/entertainment/hollywood/news-johnny-depps-lawyer-camille-vasquez-refuses-to-work-for-kanye-west-report-528144">Johnny Depp's lawyer Camille Vasquez refuses to work for Kanye West: Report</a></p>

<p>The shoe company also stated that Ye was ''engaged in unauthorized filming."&nbsp;<br />
<br />
"Two Skechers executives escorted him and his party from the building after a brief conversation,'' the statement reads.&nbsp;<br />
<br />
Condemning his comments against the Jewish community in the statement further, the company made it clear that they have no intention of working with West.&nbsp;</p>

<p><a href="https://www.wionews.com/entertainment/madame-tussauds-removes-kanye-wests-wax-statue-from-london-museum-528836" hreflang="en">Madame Tussauds removes Kanye West's wax statue over anti-Semitic comments</a></p>

<p>"Skechers is not considering and has no intention of working with West. We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech. The company would like to again stress that West showed up unannounced and uninvited to Skechers corporate offices.''&nbsp;<br />
<br />
Adidas on Tuesday officially announced it is cutting ties with West with immediate effect and is ready to take a $246.5 million hit to its net income in the current fiscal year.&nbsp;</p>

<p><strong>In pics:&nbsp;<a href="https://www.wionews.com/photos/kanye-west-controveries-a-look-at-the-most-bizarre-funny-things-he-has-ever-done-454092">Kanye West controversies! A look at the most bizarre &amp; funny things he has done or said</a></strong><br />
<br />
"Adidas does not tolerate antisemitism or any other sort of hate speech. "Ye's recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company's values of diversity and inclusion, mutual respect, and fairness," the German sportswear company added.</p>

<p>Kanye has been in the news for a while now for his controversies - first for wearing a White Lives Matter t-shirt at Paris Fashion Week, then for his public feud with Vogue editor Gabriella Karefa-Johnson, and most recently for his anti-Semitic tweets.&nbsp;</p>

<p>West had tweeted that he was going "death con 3 on Jewish people".</p>


A day after Adidas ended its multi-million deal with Kanye West over his anti-Semitic comments, he showed up uninvited at the footware maker Skechers' office in Los Angeles, California, presumably in hope of a new deal.

A day after Adidas ended its multi-million deal with Kanye West over his anti-Semitic comments, he showed up uninvited at the footware maker Skechers' office in Los Angeles, California, presumably in hope of a new deal. The 'Gold Digger' rapper was escorted out of the building after having a brief conversation with two officials, the organisation said in a statement. It said the rapper, who now goes by the name Ye, arrived at their office building ''unannounced and without invitation." Johnny Depp's lawyer Camille Vasquez refuses to work for Kanye West: Report The shoe company also stated that Ye was ''engaged in unauthorized filming." "Two Skechers executives escorted him and his party from the building after a brief conversation,'' the statement reads. Condemning his comments against the Jewish community in the statement further, the company made it clear that they have no intention of working with West. Madame Tussauds removes Kanye West's wax statue over anti-Semitic comments "Skechers is not considering and has no intention of working with West. We condemn his recent divisive remarks and do not tolerate antisemitism or any other form of hate speech. The company would like to again stress that West showed up unannounced and uninvited to Skechers corporate offices.'' Adidas on Tuesday officially announced it is cutting ties with West with immediate effect and is ready to take a $246.5 million hit to its net income in the current fiscal year. In pics: Kanye West controversies! A look at the most bizarre & funny things he has done or said "Adidas does not tolerate antisemitism or any other sort of hate speech. "Ye's recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company's values of diversity and inclusion, mutual respect, and fairness," the German sportswear company added. Kanye has been in the news for a while now for his controversies - first for wearing a White Lives Matter t-shirt at Paris Fashion Week, then for his public feud with Vogue editor Gabriella Karefa-Johnson, and most recently for his anti-Semitic tweets. West had tweeted that he was going "death con 3 on Jewish people".

After Adidas split, Kanye West shows up at the Skechers office, escorted out of building

After ADIDAS ended its partnership with musician Kanye West, what does the brand plan to do? Priyanka Sharma brings you the details

WION Fineprint | What next for ADIDAS after severing ties with Kanye West?

<p>It's been quite a dramatic fall for rapper Kanye West this past week. The rapper's anti-semitic remarks not just led to backlash online but it also prompted several brands to cut ties with the rapper.&nbsp;<br />
<br />
On Tuesday, Adidas issued a statement announcing the termination of its partnership with Kanye who also goes by the name Ye.&nbsp;<br />
<br />
"Adidas does not tolerate antisemitism and any other sort of hate speech." Ye`s recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company`s values of diversity and inclusion, mutual respect and fairness," the company added.</p>

<p><a href="https://www.wionews.com/entertainment/adidas-under-pressure-over-kanye-west-after-anti-jewish-outbursts-528148">Adidas finally cuts ties with Kanye West over anti-Semitic comments</a><br />
<br />
Owing to the end of Adidas collaboration, West's net worth has come down to USD 400 million. According to a Forbes report, tThe Yeezy deal accounted for USD 1.5 billion of his net worth.West legally changed his name from Kanye to Ye and had been collaborating with Adidas on his Yeezy shoe line since 2013.<br />
Adidas was not the first brand to have cut ties with the rapper. Last week Balenciaga and GAP too ended their partnership with Kanye.<br />
<br />
The rapper though seemed unfazed as he told TMZ, "I ain`t losing no money... The day I was taken off the Balenciaga site, was one of the most freeing days."</p>

<p><a href="https://www.wionews.com/entertainment/balenciaga-is-reportedly-cutting-ties-with-kanye-west-post-his-anti-semitic-comments-527451" hreflang="en">Balenciaga cuts ties with Kanye West post his anti-Semitic comments: Report</a><br />
<br />
He said that people are merely cutting ties with him to "mute him. He mentioned that people are doing so to simply "score points".</p>

<p><a href="https://www.wionews.com/entertainment/george-floyds-family-is-planning-to-sue-kanye-west-over-his-overdose-comment-on-his-death-526222" hreflang="en">George Floyd's family is planning to sue Kanye West over his overdose comment on his death</a><br />
<br />
He further added that it's not easy to cancel him - "We here, baby, we ain't going nowhere."He defended his anti-Semitic commend and told TMZ, "I want to talk about the Jewish comment, it's actually proven the exact point that I made."<br />
<br />
Kanye sparked controversy earlier this month when he appeared at the Paris Fashion week wearing a T-shirt that said, "White Lives Matter."<br />
<br />
The phrase is a dog whistle to right-wing groups in the United States and a reaction to the Black Lives Matter movement.</p>

<p>Days later he was locked out of Twitter and Instagram for threatening to "Go death con 3 on JEWISH PEOPLE."</p>


It's been quite a dramatic fall for rapper Kanye West this past week. The rapper's anti-semitic remarks not just led to backlash online but it also prompted several brands to cut ties with the rapper.

It's been quite a dramatic fall for rapper Kanye West this past week. The rapper's anti-semitic remarks not just led to backlash online but it also prompted several brands to cut ties with the rapper. On Tuesday, Adidas issued a statement announcing the termination of its partnership with Kanye who also goes by the name Ye. "Adidas does not tolerate antisemitism and any other sort of hate speech." Ye`s recent comments and actions have been unacceptable, hateful, and dangerous, and they violate the company`s values of diversity and inclusion, mutual respect and fairness," the company added. Adidas finally cuts ties with Kanye West over anti-Semitic comments Owing to the end of Adidas collaboration, West's net worth has come down to USD 400 million. According to a Forbes report, tThe Yeezy deal accounted for USD 1.5 billion of his net worth.West legally changed his name from Kanye to Ye and had been collaborating with Adidas on his Yeezy shoe line since 2013. Adidas was not the first brand to have cut ties with the rapper. Last week Balenciaga and GAP too ended their partnership with Kanye. The rapper though seemed unfazed as he told TMZ, "I ain`t losing no money... The day I was taken off the Balenciaga site, was one of the most freeing days." Balenciaga cuts ties with Kanye West post his anti-Semitic comments: Report He said that people are merely cutting ties with him to "mute him. He mentioned that people are doing so to simply "score points". George Floyd's family is planning to sue Kanye West over his overdose comment on his death He further added that it's not easy to cancel him - "We here, baby, we ain't going nowhere."He defended his anti-Semitic commend and told TMZ, "I want to talk about the Jewish comment, it's actually proven the exact point that I made." Kanye sparked controversy earlier this month when he appeared at the Paris Fashion week wearing a T-shirt that said, "White Lives Matter." The phrase is a dog whistle to right-wing groups in the United States and a reaction to the Black Lives Matter movement. Days later he was locked out of Twitter and Instagram for threatening to "Go death con 3 on JEWISH PEOPLE."

Kanye West no longer a billionaire as Adidas terminates partnership 

Sports giant ADIDAS has ended its partnership with musician Kanye West for his offensive behaviour. Neha Khanna tells you more.

WION Fineprint | ADIDAS severs ties with Kanye West

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