On October 25, Adidas confirmed they would no longer continue their partnership with Kanye West, who now goes by Ye, but what is the brand’s net worth in 2022?
Adidas and Ye’s collab came as exciting news to the fans when it was confirmed back in 2015. Both have made huge profits from the partnership since then.
Fast forward to 2022. The brand released a statement in which they confirmed that they would be ending all ties with the rapper after he had made antisemitic comments online and during interviews.
How much does Adidas cost?
As per Macro TrendsAdidas is valued at $20.19 trillion. It’s not surprising, as Adidas confirmed that it had a great 2021.
In a Statement, the company revealed its sales grew 16% and that the company’s revenues increased by 15% in 2021 to €21.234 billion.
In the same year, the company’s gross margin increased by 0.7 percentage points to 50.7%. All this was in mind, the company set its sights for 2022 to achieve higher performance.
How much did the brand earn from Yeezys
As per New York Post, Jonathan Komp, a Baird analyst, estimated that with the partnership the brand was earning around $1.8 billion in annual revenue.
In the StatementThey also confirmed that Adidas would be their next target. “have a short-term negative impact” of up to €250 million on the company’s net income in 2022.
It has also affected Ye, who is now not on Forbes’ billionaire lists. His net worth rose from $1.5bn up to $400m.
Adidas has severed all ties with the rapper
Adidas has finally stated that they are ending their partnership. This was in response to some of his comments online and offline.
The statement read: “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.”
It went on: “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. adidas will stop the Adidas Yeezy business with immediate effect.”
Also, how much do Adidas make every year from Yeezy sales?