• Loading stock data...
Monday, July 14, 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

NFL’s New Headsets Are Designed to Survive Coach Tantrums

New NFL coaching headsets underwent “extensive drop testing.”

MLB’s HR Derby’s $1M Prize Tops Salaries for Three Rising Stars

Three derby competitors could more than double their 2025 salary.

SEC’s Greg Sankey: Conference Not Sold on Private Equity—for Now

SEC commissioner Greg Sankey said he’s taken PE meetings.
Apr 6, 2024; Miami, Florida, USA; The LIV Golf logo is on display along the 10th hole during the second round of LIV Golf Miami golf tournament at Trump National Doral.

LIV Golf’s New Leadership Reapplies for World Ranking Points

The league’s first attempt was denied in 2023.

Featured Today

May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.
July 12, 2025

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.
July 11, 2025

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.
July 9, 2025

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.
A Lululemon store at Freehold Raceway Mall in Freehold Township, New Jersey on Nov. 30, 2023

Sportswear Stocks Rise as Trump Touts Vietnam Trade Deal

Tariffs on Vietnam imports will be 20%, down from a prior threat of 46%.
Jun 20, 2024; Eugene, OR, USA; Detailed view of Nike Alphafly 3 racing flat at the Nike by Eugene store.
June 25, 2025

Investors Hunt for Signs Nike Has Regained Its Footing

Nike’s fundamentals are “still challenged.”
From vintage to unique collaborations, various Nike and Jordan shoes are displayed on a wall at Saved Soles inside West Ridge Mall.
June 26, 2025

Nike Stumbles Less Than Expected, Giving Wall Street Hope

The sports apparel and footwear giant beats Wall Street expectations.
Sponsored

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

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
Jun 15, 2025; Oakmont, Pennsylvania, USA; JJ Spaun putts on the 18th green to win during the final round of the U.S. Open golf tournament.
June 16, 2025

‘Pandemonium’: Putter Maker Sees Sales Surge After JJ Spaun’s U.S. Open Win

The company behind Spaun’s putter is already in talks with his people.
June 13, 2025

U.S. Open Merch Pops Thanks to Oakmont’s Squirrel, Viral TikToks

There are more than 400,000 pieces of merchandise available at Oakmont.
Tom's Watch Bar
June 12, 2025

How the Pacers and Caitlin Clark Boosted One Bar’s Bottom Line

Tom’s Watch Bar hosted John Haliburton for at least five games.
June 12, 2025

U.S. Open Cashing In on Signature Cocktail Trend With Lemon Wedge

Last year, the whiskey cocktail was served more than 50,000 times.