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An Adidas store in New York. Photo: Gabby Jones/Bloomberg News March 29, 2023 5:36 am…

Beyoncé and Adidas AG have decided to end their fashion partnership, according to people familiar with the matter, splitting up after years of lackluster sales for her Ivy Park line of apparel. The partnership will end after the company releases Ivy Park collections of merchandise that are already planned for this year, the people said. The Hollywood Reporter earlier reported that the two sides were breaking up.…

Fanatics Inc. will replace Adidas AG ADDYY 1.25% as the official uniform supplier for the National Hockey League starting with the 2024-2025 season, the league said. The 10-year deal will see Fanatics supply on-ice uniforms for players and jerseys for retail sale, the NHL said Tuesday. The move represents a deepening partnership between the sports-merchandising company and the NHL, which over the past two decades has…

HERZOGENAURACH, Germany— Adidas AG ADDYY 2.13% is facing a slump in China and $6 billion of unsold inventory, adding to its challenges after a bruising 2022 in which it dumped its chief executive and terminated its partnership with rapper Kanye West.The German sportswear maker’s revenue increased 6% last year to 22.5 billion euros, equivalent to $23.7 billion, while its net profit fell 83% to €254 million. In the fourth quarter, revenue growth almost ground to a halt and…

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,…

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…

Adidas AG’s ADDYY -0.51% chief executive and senior leaders in Germany discussed as far back as four years ago the risk of continuing a relationship with Kanye West that they feared could blow up at any moment, according to people familiar with the matter and documents reviewed by The Wall Street Journal.A 2018 presentation to members of the Adidas executive board, a group that included CEO Kasper Rorsted and the head of human resources,…

Adidas AG has launched an investigation into alleged inappropriate behavior by Kanye West while the sportswear giant was working with the musician to develop and sell their Yeezy sneaker line. The German company said Thursday that it would start the probe after receiving an anonymous letter making a number of allegations against Mr. West, who goes by Ye. Adidas said in a written statement that while it wasn’t…

Two rivals face similar crises at the same time. They react in very different ways that reveal a great deal about themselves.  The outcomes looked almost identical. The process wasn’t. The responses to their predicaments actually had as little in common as swooshes and stripes. The companies diverged in their strategies for handling controversial business partners because of a big disparity in the corporate footprint of Adidas and Nike’s popular sneakers.  Mr. West became worth so…

Adidas AG again cut revenue and earnings guidance for the year to account for the end of its Yeezy label partnership with musician and designer Kanye West. The German sporting-goods giant now expects 2022 revenue to increase by a low-single-digit percentage at constant currency, from previous guidance in the mid single digits, it said Wednesday. Net profit from continuing operations should come in at around 250 million euros, equivalent to $251.9 million, half what it previously expected, with a gross…