adidas

HERZOGENAURACH, Germany—A slump in China and a $6 billion mountain of unsold products are among the challenges facing Adidas AG ADDYY -2.80% after a bruising 2022 in which it dumped its chief executive and ended a partnership with rapper Kanye West. The German sportswear giant’s revenues increased 6% last year to 22.5 billion euros, equivalent to $23.7 billion, while its net profit fell 83% to €254 million. For the fourth quarter,…

Major League Soccer and sportwear giant Adidas agreed to a multiyear extension of their partnership.The deal, announced days before MLS kicks off its 28th season, goes through 2030 and is valued at $830 million, according to a person involved in the deal. It represents Adidas' largest-ever investment in North American soccer.Their current contract, set to expire next year, was signed in 2017. At the time, it marked a record-breaking deal for North American soccer for Adidas. That deal was valued at $700 million.Under the…

Melt them down and turn them into Crocs? Scrape off the label and hope no one notices?What Adidas should do with all its unsold Yeezys is a €1.2bn ($1.3bn, £1bn) question that no one seems to have a very good answer for. The brand is in danger after it cut ties with Kanye West in October over his antisemitic comments.The rapper, who now goes by Ye, was a huge profit driver for the company. A pair of his signature chunky rubber Yeezy 350 V2s went for about $220 (and was often resold for many times its retail price). Ye…

Photo: Mark Knapp / GizmodoWhile the market for true-wireless gaming earbuds is remarkably small, it just got a little bigger with the addition of the Anker Soundcore VR P10. These earbuds have a lot in common with the typical Bluetooth options you’ll find on the market, but they bear the budget-friendly pricing of Anker’s other Soundcore products ($100 MSRP, but $80 at the time of writing), and they offer the hallmark feature of wireless gaming audio gear: a dedicated wireless transmitter. While they may not be a perfect…

Beyoncé is crazy in love with Dubai. She performed a private concert in the city on Saturday and previewed her latest Adidas x Ivy Park collection on Sunday. Dubbed Park Trail, the new line of performance-wear clothing was highlighted by the colors orange, army green, deep purple and cream. Park Trail was inspired by the resilience of the outdoors, the spirit of the streets and the possibilities of the future. Models showed off the new collection at Nobu by the Beach — one of eight new celebrity…

Pedestrians walk by a large Adidas logo inside the German multinational sportswear shop.Miguel Candela | SOPA Images | LightRocket via Getty ImagesSeveral press releases allegedly sent from Adidas about a Berlin Fashion Week launch, its treatment of workers abroad and other topics related to its business structure were fake, according to the company."We're not commenting on these fake emails/releases," said Claudia Lange, the retailer's vice president of external communication, in an email to CNBC.One faked release said…

Nike Inc. said Monday that Kyrie Irving is no longer a Nike athlete, ending a more than decadelong relationship with the basketball star that resulted in the creation of a sneaker line that was popular with professional athletes and consumers. The brief statement from the sneaker giant comes after it suspended its endorsement of Mr. Irving in early November and the release of the Kyrie 8, a sneaker model that had been expected to make its debut later that month. Nike decided to take action against…

Encrypted messaging is coming to Android group chats Image: GoogleGoogle’s on an update kick this week. After bringing sharable digital car keys to Android and Adidas app integration to Wear OS, the company announced that end-to-end encryption for group chats is coming to Messages by Google, the default messaging app for most Android smartphones. Messages by Google already encrypts threads between two Android-using parties. But now the encryption exists for group chats, too. It’s only rolling out in beta for now, but if…

I would love to try the digital car key feature, but I do not own a BMW—or another compatible car. Image: GoogleIt’s time for another Android software update bundle! There are goodies for all Pixel and non-Pixel users this time—there’s even something for iPhone users.If you have a car with keyless entry via your smartphone, the latest Android update will let you share that digital key with trusted friends and family. The feature is only available on Pixel smartphones, though you can share your key with iPhone users who…

Gilbert Carrasquillo | GettyThe chief executive and other senior leaders at Adidas discussed the potential fallout from its relationship with Kanye West as far back as four years ago, according to a report from The Wall Street Journal.During a 2018 presentation to the Adidas executive board, a group of employees reportedly outlined the risks that they faced by interacting with West, who has legally changed his name to Ye. The presentation included a number of mitigation strategies that included cutting ties with the Yeezy…