• Loading stock data...
Monday, June 2, 2025

Adidas CEO Stands Behind Ye Nearly Year After Brand Cut Ties

  • Gulden’s comments mark rare and surprising corporate move
  • Brand continues to benefit from sales of discontinued inventory
Adidas

In a rare, surprising corporate move, Adidas CEO Bjørn Gulden said he doesn’t think Ye, formerly known as Kanye West, “meant” the antisemitic comments that led the brand to cut ties with the rapper.

On the “In Good Company” podcast, Gulden stood behind Ye, describing the collaboration to create the Yeezy line of sneakers as one of the industry’s most successful unions of street culture and athletic footwear. That union previously accounted for about 10% of Adidas’ annual revenue — and severing ties initially cost the brand $440 million in first-quarter 2023 sales.

“[It’s] very unfortunate, because I don’t think he meant what he said, and I don’t think he’s a bad person,” Gulden said. “It just came across that way, and that meant we lost that business.”

Adidas cut ties with Ye in October 2022 in the wake of antisemitic comments made on social media, calling the remarks “unacceptable, hateful, and dangerous.” Nearly a year later, the tone has notably changed, though Gulden took the company’s leadership reins after the Ye split. 

“I think Kanye West is one of the most creative people in the world, both in music and what I’d call street culture,” Gulden said.

Adidas later issued a statement in response to Gulden’s comments, saying, “our position has not changed. Ending the [Ye] partnership was appropriate.”

Big Sales

Last month, the brand reported a $437 million second-quarter revenue lift from discontinued Yeezy inventory, advancing a prior plan to sell that stock instead of destroying it and following reports of $565 million in sales from the initial drop of closeouts.

Adidas plans to donate at least $120 million of the proceeds from the Yeezy shoes — and perhaps more — to anti-hate advocacy groups.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Indiana Fever’s Mounting Injuries Highlight WNBA Roster Size Problem

Cameron Brink believes the WNBA needs to expand roster sizes.

Bears Suburban Stadium Deal Inching Forward Despite Cost Questions

State legislators discussed a Bears-friendly bill, but ran out of time.

Scheffler Closing Fast on Mickelson’s PGA Tour Earnings

Scottie Scheffler is already fourth in PGA Tour career earnings.

Rockies Hit New Low With No Clear Answers in Sight

The club is on pace to become the worst in baseball’s modern era.

Featured Today

PSG and the City of Paris Can Join European Soccer’s Elite

What a maiden Champions League title would mean for the French club.
May 30, 2025

How the Champions League Anthem Took on a Life of Its Own

The composer didn’t know he wrote a timeless hit three decades ago.
May 25, 2025

How Rolex Paved the Way for Luxury’s Love Affair With Tennis

“It’s almost impossible to think about tennis without thinking about Rolex.”
Mar 23, 2025; Miami, FL, USA; Alexandra Eala (PHI) reacts after winning a point against Madison Keys (USA)(not pictured) on day six of the Miami Open at Hard Rock Stadium.
May 24, 2025

Alex Eala Is Defying Her Country’s Odds to Make French Open History

The Philippines native has overcome a unique set of financial odds.
Mar 23, 2024; New York, New York, USA; Sneakers worn by New York Knicks guard Jalen Brunson (11) during warmups prior to the game against the Brooklyn Nets at Madison Square Garden.

Nike to Raise Prices on Sneakers Above $100

Kids products and Air Force 1s won’t be affected.
May 15, 2025

20 Hats Per Minute: Merch Madness Hits PGA Championship

Headwear is among the most popular items selling in Charlotte.
Arc'teryx
May 20, 2025

Expensive Outdoor Gear Is Bright Spot Amid Tariff Turmoil

Amer Sports says tariffs will have a “negligible” impact on its results.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

In Episode 7 of Portfolio Players, go inside the boardroom with Avenue Capital CEO and former Milwaukee Bucks co-owner Marc Lasry on Giannis’s future, women’s sports, and upstart leagues like TGL and Unrivaled. 
On-Running
May 14, 2025

On Says It’s Raising Prices—but Not Because of Tariffs

“We want to be the most premium performance sportswear brand,” On’s cofounder said.
Soar
May 12, 2025

Running Is a Bright Spot As Retailers Reel From Trump Tariffs

Sales of running shoes rose 7% in the first quarter.
A'ja Wilson
May 6, 2025

Why Nike Wanted A’ja Wilson’s New Shoe to Sell Out in Minutes

Nike gave fans a taste of the A’Ones with a limited drop.
Michelle Wie West
exclusive
May 6, 2025

Michelle Wie West Is Latest Athlete to Invest in Togethxr

The brand tripled its revenue year over year and is profitable.