Adidas held over $1 billion worth of unsold Yeezy inventory in May.
Germany
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Last year, Adidas ended its lucrative collaboration with West following a series of offensive and antisemitic comments.
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This release marks the resurrection of the partnership between Rihanna and Puma, a collaboration that had previously yielded a series of sell-out …
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Adidas’ adept maneuvering following its separation from West has ensured its resilience, with significant gains in share value and market capitalization.
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The recent downturn came shortly after the German sportswear giant announced the launch of the second sale of West’s Yeezy sneakers.
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This marks the first release of the Yeezy sneakers following the termination of Adidas’ collaboration with West in October 2022.
- Southern Africa
Scandal-plagued South African billionaire Markus Jooste faces arrest as German court takes action
This comes weeks after Jooste failed to appear in court, marking his first criminal charge since the collapse of Steinhoff.
- North Africa
Aliko Dangote, Mo Ibrahim join France in deliberating on Sudan’s $5-billion debt cancellation
President of France Emmanuel Macron announced the cancelation as a nod to Sudan’s progress with reforms.