German sportswear large Adidas mentioned on Wednesday it should reduce as much as 500 jobs because it appears to proceed its revival and switch the web page on a messy break up with US rapper Kanye West.
The discount within the headcount, geared toward driving effectivity, will have an effect on workers at Adidas’s headquarters in Herzogenaurach and can progress on a voluntary foundation, CEO Bjorn Gulden instructed reporters.
Gulden took the reins on the sports activities clothing store in 2023 within the wake of its damaging break up with West – who now goes by Ye – over anti-Semitic remarks by the rapper.
Following the tip of the collaboration, Adidas started offloading extra inventory of Yeezy merchandise developed along with West.
Adidas mentioned on Wednesday it had bought off its final remaining pair of Yeezy-brand trainers within the final quarter of final yr.
The lack of West and the revenue from the profitable athleisure line drove Adidas to a loss in 2023, however the group has since bounced again.
In 2024, Adidas made a web revenue of $882 million and mentioned it hoped to proceed the upward pattern in 2025.
Adidas mentioned it anticipated “high-single-digit rate” gross sales development general in 2025, regardless of an absence of main sporting occasions that might enhance gross sales.
Speaking to reporters, Gulden mentioned the influence of US tariffs threatened by President Donald Trump towards key buying and selling companions corresponding to China was unsure.
“We don’t know what will happen with tariffs in the United States,” the CEO mentioned.
What is your footwear model of alternative?
Let us know by leaving a remark beneath, or ship a WhatsApp to 060 011 021 1
Subscribe to The South African web site’s newsletters and observe us on WhatsApp, Facebook, X and Bluesky for the newest information.
By Garrin Lambley © Agence France-Presse