Adidas

Adidas Warns of First Loss in Three Decades Following Split with Kanye West

Adidas has warned that it could experience its first annual loss in 31 years, with the sportswear company projecting a full-year operating loss of 700 million euros, or $739 million, for 2023. The bad financial news comes after Adidas ended its lucrative partnership with Kanye West after the rapper and fashion mogul embarked on an anti-semitic media tour.

Kanye West at Milk Studios on June 28, 2016 in Hollywood, California. adidas and Kanye Wes

Sharp Power: China Punishes Sweden’s H&M for Objecting to Uyghur Slave Labor

China’s latest exercise of “sharp power” – using economic leverage to impose its political agenda on the free world – targets H&M, a Swedish fashion company. The clothing company was surprised to find itself threatened with boycotts and banned by major Chinese e-commerce platforms Wednesday over months-old social media posts expressing concern about China’s use of Uyghur Muslim slave labor in Xinjiang province.

People walk out from a store of Swedish clothing giant H&M in Beijing on March 25, 202

Three Convicted in Basketball Recruiting Corruption Trial

New York (AFP) – Adidas executive James Gatto was among three men found guilty in a US court Wednesday of conspiring to make illegal payments aimed at recruiting promising players to universities affiliated with the sportswear giant.

Basketball Recruiting Scandal