Adidas eyes new deals after cutting ties with Kanye West; Taylor Swift on radar

Over a year after parting ways with multi-industry creative Kanye West and his brand Yeezy, Adidas is actively seeking new collaborations, with U.S. music superstar Taylor Swift emerging as a prime candidate.

During the group’s results presentation last week, Adidas CEO Bjorn Gulden highlighted the company’s growth plans and potential partnerships with pop culture icons, hinting at its keen interest in Taylor Swift. Gulden acknowledged Swift’s affinity for Adidas products, citing recent sightings of the singer wearing classic Adidas sneakers.

Could Taylor Swift be the next face of Adidas?

“Some of you asked me yesterday if we could sign Taylor Swift,” said Gulden from Adidas’ headquarters in Herzogenaurach, Germany. “I said I would love to — I don’t know how I’d do it, but right now she’s also wearing our products from time to time, which might help.”

Gulden addressed speculations stemming from a photograph posted by Kanye West in February, showing him seated next to Gulden after the Super Bowl. Dismissing notions of a business meeting, Gulden clarified, “It was not a meeting, there were no business discussions.”

Adidas delivers on promise: $150-million donation from Kanye West’s Yeezy sales targets anti-Semitism

In light of past controversies surrounding West’s remarks, Adidas recently disclosed fulfilling its promise to donate over $150 million from the sales of Yeezy shoes to organizations combating anti-Semitic hate.

The company’s financial results reflected extraordinary expenses exceeding €340 million ($370 million), including donations exceeding €140 million ($152 million) directed to groups such as the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.

The termination of the Adidas-West collaboration had notable financial implications. Adidas reported a net loss of €58 million ($63.1 million) in 2023, attributed in part to discontinuing the Yeezy business. Conversely, West’s fortune plummeted from $2 billion to $400 million following the split.

Adidas CEO Bjorn Gulden navigates flat revenues, sees hope amid Kanye West’s Yeezy revenue loss

Despite these challenges, Adidas CEO Bjorn Gulden expressed cautious optimism about the company’s performance, noting flat revenues and a 2023 operating profit of €268 million ($292 million) despite the loss of significant revenue from the Yeezy line.

The move to explore new partnerships signals Adidas’ adaptability in the ever-evolving landscape of brand collaborations, with Taylor Swift emerging as a potential key player in the brand’s future endeavors.