
With G20 event, India seeks to project normalcy in disputed Kashmir
As India prepares to host a meeting of tourism officials from the Group of 20 in the disputed region of Kashmir, authorities have deployed elite commandos and stepped up security in the region’s largest city
2023-05-19 13:29

CLIMATE GLIMPSE: Here's what you need to see and know today
Whether you live in Europe or are just visiting as a tourist, authorities have a recommendation: Stay inside
2023-07-19 03:22

New York City rally planned to demand release of Hamas hostages
By Jonathan Allen and Gabriella Borter NEW YORK Protesters demanding the release of hostages taken by Hamas planned
2023-10-20 02:47

How many followers does Lizzo have on Instagram? Thousands unfollow singer amid sexual harassment lawsuit
Lizzo is facing a lawsuit filed by 3 of her former back-up dancers, who claim she subjected them to sexual harassment and a hostile work environment
2023-08-04 20:26

Adidas is still figuring out what to do with $1.3 billion worth of unsold Yeezys
Nearly seven months on from Adidas parting ways with rapper Kanye West, and the sportswear brand reportedly still has $1.3 billion of unsold Yeezy stock in its warehouses. The decision from Adidas to split from West - otherwise known as Ye - came back in October last year came after the 45-year-old made antisemitic remarks both in interviews and online. But now, Adidas has to decide what to do with the remaining stock of the popular shoe as the company attempts to turn its fortune around after it abruptly ended its partnership with West and his Yeezy brand, with 400 million euros ($441 million) in lost sales at the start of the year. Sign up to our free Indy100 weekly newsletter Though Adidas is "getting closer and closer to making a decision" on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said, as per Associated Press. He became in charge back in January this year, three months after Adidas terminated it's partnership with Ye. However, a decision has not yet been reached due to "so many interested parties," he added. Gulden did not confirm whether the option to destroy the shoes had been ruled out but noted that this is something it is the company is "trying to avoid." Meanwhile other options have their own downsides, since selling the shoes would mean Ye would need to be paid royalties, removing brand identification would be dishonest. Giving the shoes away for free sounds like a nice idea in theory but this could cause them to be resold at a higher market price. Gulden is also remaining tight-lipped on the exact quantity of stock that is left since he believes if consumer are aware of this number it "could have an impact on demand," as per AP. The CEO admitted losing Yeezy is "of course hurting us" and if Adidas decides not to sell the remaining shoes, it could reduce earnings by 500 million euros this year. Net sales declined 1 per cent in the first quarter, to 5.27 billion euros, and would have risen per cent with the Yeezy line, the company said. As a whole, Gulden described 2023 as a "a year of transition" with "a better ’24 and a good ’25" as the German sportswear business continues without the Yeezy brand. Elsewhere, Adidas found itself being sued by investors last week who allege the company knew about Ye’s offensive remarks and harmful behaviour years before the termination and failed to take precautionary measures to limit financial losses. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
2023-05-10 02:19

6 Legendary Beings Who Haunt America’s National Parks
The parks offer thrill seekers, ghost hunters, and the brave alike another reason to visit.
2023-08-23 06:21

Man indicted in theft of 'Wizard of Oz' ruby slippers worn by Judy Garland
A federal grand jury has indicted a man who is suspected of stealing a pair of famous ruby red slippers worn by Dorothy in the Wizard of Oz. Federal prosecutors said Terry Martin was indicted Tuesday on one count of theft of major artwork
2023-05-18 03:22

Jason Momoa thinks Vin Diesel is jealous of him for outshining everybody in 'Fast X'
Sources say Diesel has been vocal within his inner circle about Momoa's alleged 'scene-stealing' and 'over-acting'
2023-06-01 20:21

How tall is J Cole? Internet once dubbed ‘She Knows’ rapper mediocre
J Cole towers above his wife Melissa Heholt
2023-10-12 15:23

Former NFL player Sergio Brown is missing and his mother has been found dead near a creek in a Chicago suburb, police say
Former NFL player Sergio Brown is missing, and his mother was found dead Saturday near a creek in a Chicago suburb, according to police.
2023-09-18 11:17

Asian Shares Look Mixed; Treasuries Extend Rally: Markets Wrap
Asian stocks are poised for a mixed opening after Wall Street struggled in the wake of a rally
2023-11-28 07:21

Starmer Prepares Labour for UK General Election as Soon as May
Keir Starmer said his Labour Party is preparing for a UK general election as soon as May 2024,
2023-10-09 19:29
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