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Adidas’s new C.E.O., Bjorn Gulden, confirmed this week that 2022 was a dud. The German sportswear giant swung to its first annual loss in 31 years.
Source: https://www.nytimes.com/2023/03/11/business/dealbook/silicon-valley-bank-collapse.html
The loss of Yeezy revenue came as Adidas’s performance was declining, partly from the pandemic but also because it had overestimated the demand for other sneakers and the promise of other collaborations.
Source: https://www.nytimes.com/2023/10/27/business/kanye-west-adidas-yeezy.html