The German sports equipment manufacturer Adidas suffered a heavy drop in its net income in 2022, suffering the full brunt of the end of its collaboration with Kanye West, the group said on Thursday.
Adidas’ net profit fell to 254 million euros, compared to 1.49 billion euros generated in 2021. The end of the collaboration with the American rapper Kanye West after the anti-Semitic remarks made by the latter, should end in 2023 with an operating loss of 700 million euros, Adidas said.
ATS
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