Adidas moves on from Kanye West to profitable future

The exit of Kanye West had dented Adidas profits at the start, but now, the company says, 2024 will expectantly bring profits of €700m.

The news became a boon for the apparel giant after it was reported the company suffered losses for the first time in 30 years.

Revising figures to €200m, the sportswear manufacturer said the numbers—for the first quarter—are more than previously believed.

Along with profitability, it has shot up to €336m, a visible gain of €60m from last year after splitting with its former collaborator Ye.

Addressing the thorny issue of Yeezy, the BBC reports, the company said the shoes will be sold at least at the cost price that is expected to fetch €200m.

Previously, Adidas announced the proceeds would flow into the charities that work to tackle hate—given what made the company step away from Kanye after he shared offensive remarks against the Jewish community in 2022.