, according to the US business magazine. At the time, Adidas said it expected the decision to have a 'short-term negative impact of up to €20million on the company's net income in, 2022 given the high seasonality of the fourth quarter.' On Wednesday, Adidas also announced it had lowered its earnings forecast for the year to account for losses from ending its partnership with the Gold Digger musician, though Ohlmeyer said the profitability of the enterprise had been 'overstated.' The company would largely offset the impact of the breakup next year by no longer having to pay royalties and marketing fee){kind=link}
NEWS… BUT NOT AS YOU KNOW IT
Rapper Kanye West has been at the centre of several controversies recently, leading to his partnership with Adidas coming to an end – but the brand still plan on selling his collection.
Adidas says it plans to continue releasing shoes designed in collaboration with Kanye West without the Yeezy brand, after terminating its 10-year relationship with the US rapper last month.
Bosses at the German sportswear brand reiterated it was the ‘sole owner’ of certain design rights and upcoming colour-ways, and intended to make use of them next year.
The company announced it was ending production of its Yeezy branded products with ‘immediate effect’ at the end of October.