J3N Provides the Latest and Most Up-to-Date News, You Can Stay Informed and Connected to the World.
⎯ 《 Just 3 N : New News Now 》
Who is Danii Banks? OnlyFans model accuses ex-Raider Damon Arnette of stealing her Cartier watch, phone and money
Who is Danii Banks? OnlyFans model accuses ex-Raider Damon Arnette of stealing her Cartier watch, phone and money
During her appearance on the 'Pillow Talk' podcast, Danii Banks alleged that Damon Arnette stole her belongings and took $5,000 from her account
2023-08-13 16:23
Texas Capitol jolted by investigation of attorney general, accusation House speaker was drunk on job
Texas Capitol jolted by investigation of attorney general, accusation House speaker was drunk on job
Texas lawmakers have revealed a monthslong corruption investigation into Republican Attorney General Ken Paxton
2023-05-24 07:50
Adidas is still figuring out what to do with $1.3 billion worth of unsold Yeezys
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
Kim Zolciak won't back down as 'RHOA' star 'intends to call' cops every time Kroy Biermann 'loses temper'
Kim Zolciak won't back down as 'RHOA' star 'intends to call' cops every time Kroy Biermann 'loses temper'
Kim Zolciak and Kroy Biermann are still living together and have been in the middle of a fight over custody of their minor children
2023-07-09 01:23
How tall is Cher? A look at the ageless star's measurements
How tall is Cher? A look at the ageless star's measurements
Cher, the captivating entertainer known for music, movies, and magnetism has often intrigued fans with her enigmatic stature
2023-08-20 17:54
Where is Barbieland? Neil deGrasse Tyson uses science to deduce exact location
Where is Barbieland? Neil deGrasse Tyson uses science to deduce exact location
Characters in Greta Gerwig's 'Barbie' never actually mention the exact location of Barbieland
2023-08-14 20:47
Elijah McClain pleaded 'I can't breathe' before he died, trial hears
Elijah McClain pleaded 'I can't breathe' before he died, trial hears
Opening statements begin in the first of three trials over the 2019 death of a black Colorado man.
2023-09-21 10:56
'He said the right thing': Fans gush over Ed Kelce calling Taylor Swift and Travis Kelce 'wonderful couple'
'He said the right thing': Fans gush over Ed Kelce calling Taylor Swift and Travis Kelce 'wonderful couple'
Travis Kelce's dad Ed Kelce called Taylor Swift 'grounded' and said 'they're very supportive'
2023-10-26 21:28
Palestinians clash with own security forces in a West Bank refugee camp, leaving 1 dead
Palestinians clash with own security forces in a West Bank refugee camp, leaving 1 dead
Fighting has erupted in a refugee camp in the northern occupied West Bank between Palestinians and their own security forces
2023-08-31 03:28
Factbox-What is the Palestinian group Hamas?
Factbox-What is the Palestinian group Hamas?
The Palestinian group Hamas has launched a surprise attack from Gaza into Israel, in one of the most
2023-10-07 20:23
US citizen detained in Russia after appearing at Moscow court
US citizen detained in Russia after appearing at Moscow court
A US citizen has been detained in Moscow according to a Telegram statement from Moscow's courts of general jurisdiction.
2023-06-11 09:57
EXPLAINER: What are special counsels and what do they do?
EXPLAINER: What are special counsels and what do they do?
The appointment of a special counsel to oversee the Justice Department’s probe of Hunter Biden is bringing renewed attention on the role such prosecutors have played in history
2023-08-12 02:22