Kanye West’s talent with Adidas was so good that it led to: Yeezy

But the controversial rap star’s antisemitic comments last year made it impossible for the company to keep working with him.

The sportswear giant’s new CEO, Bjoern Gulden, was hired just two weeks after Ye’s sudden departure. He defended his company’s strong ties with the Yeezy creator despite reports of Ye’s “erratic behavior” by saying that Ye had a unique talent.

“As difficult as he was, he is perhaps the most creative mind in our industry,” the company’s CEO said at the shareholders’ annual meeting.

Also, when Ye was fired, Adidas lost a record amount of money because Yeezy brought in 10% of the company’s annual income.

Also, the company thought that the lost sales would cause it to lose $246 million in the first year alone.

Also, a huge drop of $1.3 billion and a drop of $534 million in running profits will make things worse for the multibillion-dollar company. Yeezy clothes and shoes will no longer be available.

But the company got out of the stalemate by selling some Yeezy goods and giving the money from those sales to charity.

“What we are trying to do now over time is to sell some of this merchandise… burning the goods would not be a solution,” the CEO said about one of the ideas that had been tossed around.

Second, Adidas’s defensive stance could be due to a recent case brought by its investors, which put them in a tough spot.

The shareholders sued the company, saying that it ignored reports about the father-of-four’s strange behavior and didn’t do anything about it since 2018.

The investors did not name West in the lawsuit but said Adidas “failed to take meaningful precautionary measures to limit negative financial exposure” if the partnership ended.