Adidas breaks its deal with rapper Kanye West and expects an operating loss of €700m.
Yeezy line products accounted for about 10% of the company's annual revenues, but this is just one piece of a larger puzzle. The company has allowed Yeezy products to account for the dominant part of its operating income.
Estimated value of the lost revenue in 2023 is €1.2bn. If the company decides not to sell the remaining Yeezy items in stock, operating income will be reduced by another €500m.
Today we present the valuation of Adidas, prepared by companyvalueradar.com
Adidas is german manufacturer of athletic shoes, apparel and sporting goods. In the early 21st century it was the largest sportswear manufacturer in Europe and the second largest (after Nike) in the world.
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