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☆ Adidas plans to end Kanye West partnership over 'offensive behaviour' - Bloomberg News
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +1 min

Oct 25 (Reuters) - German sporting goods maker Adidas AG (ADSGn.DE) plans to end its partnership with American rapper Kanye West, following a rash of offensive behaviour from the performer and designer, Bloomberg News said on Tuesday, citing people familiar with the matter. Adidas may announce the move as early as Tuesday, the report added, saying the rapper, who now goes by the name Ye, has made controversial statements, including anti-Semitic social media posts, in recent weeks. Adidas on Oct. 6 said it was reviewing its business partnership with the rapper and fashion designer. West which has been partnering with Adidas since 2013 had been publicly critical of Adidas and its CEO, adding that the sporting goods maker were copying his ideas, CNBC had earlier reported. Ye recently has agreed to buy Parler, the social media platform popular among U.S. conservatives.

Adidas said it would end its partnership with Kanye West and Gap Inc. said it would pull apparel he helped design from its stores, after a string of controversies including a recent anti-Semitic outburst from the musician and fashion-brand owner. Adidas’s decision, which ends a lucrative arrangement that has produced the popular Yeezy collection of sneakers, comes after weeks of pressure on the German sportswear company from human-rights advocates and after other businesses severed their ties with Mr. West, who goes by Ye.

☆ Adidas ends Kanye West partnership over antisemitism, hate speech
▼ + stars: | 2022-10-25 | by ( ) www.reuters.com time to read: +3 min

"Adidas does not tolerate antisemitism and any other sort of hate speech," the German company said. Register now for FREE unlimited access to Reuters.com RegisterA lawyer representing Kanye West did not respond to a request for comment. Adidas put the partnership under review earlier in October "after repeated efforts to privately resolve the situation." Ye has courted controversy in recent months by publicly ending major corporate tie-ups and due to outbursts on social media against other celebrities. His Twitter and Instagram accounts were restricted, with the social media platforms removing some of his online posts that users condemned as antisemitic.

Oct 17 (Reuters) - American rapper Kanye West, who now goes by Ye, has agreed in principle to buy Parler, the social media platform popular among U.S. conservatives, parent company Parlement Technologies said on Monday. Parler, which launched in 2018, has been reinstated on Google and Apple Inc's app stores after being removed following the U.S. Capitol riots in January 2021. Parler is one of several social media platforms, including Gettr, Gab and Truth Social, that position themselves as free-speech alternatives to Twitter Inc (TWTR.N). Register now for FREE unlimited access to Reuters.com RegisterLast month, Parler created a new parent company, Parlement Technologies Inc, as part of an overhaul. The Parler deal came together quickly, CEO Farmer said, and Parlement was "presented with an opportunity."

☆ Kanye West to buy social media app Parler
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

Oct 17 (Reuters) - American rapper Kanye West, who now goes by Ye, has proposed to buy Parler, the social media platform popular among U.S. conservatives, parent Parlement Technologies said on Monday. Nashville-based Parler, which has raised about $56 million till date, said it expects the deal to close during the fourth quarter of 2022. The rapper has also had problems with major social media platforms, being restricted a number of times. Most recently, West was locked out of his Instagram by Facebook parent Meta Platforms (META.O) for posts that online users condemned as anti-Semitic. Last month Parler created a new parent company, Parlement Technologies Inc as part of an overhaul.

☆ California job-seekers will soon see salary ranges on job postings
▼ + stars: | 2022-09-28 | by ( Jennifer Liu | ) www.cnbc.com time to read: +6 min

California job postings will soon include pay ranges, thanks to a new salary transparency bill signed into law by Gov. The move makes California the largest state where job listings will require salary information by law. In California, women are paid roughly 88 cents for every dollar paid to a man, with the gap increasing for women of color. Reporting pay data based on job and demographic background can help uncover occupational segregation that employers may not be aware of. Previous California law already requires companies with 100 or more direct-hire workers submit job and demographic data for those workers.

☆ Gap eliminates 500 corporate jobs amid shrinking profitability
▼ + stars: | 2022-09-20 | by ( ) www.nbcnews.com time to read: +1 min

Gap Inc. is eliminating about 500 corporate jobs, the apparel chain said on Tuesday, as it struggles to protect margins and battles weak sales of outdated clothes at brands including Old Navy. The company is laying off staff and eliminating positions that are currently open across a range of departments, it said. Shares of the Banana Republic parent declined about 3% in afternoon trade, taking the year-to-date decline to 48%. Late last month, the company withdrew its annual forecasts due to an inventory glut and weak sales. The company had a workforce of about 97,000 employees as of Jan. 29, with around 9% of employees working at its headquarters locations, according to a regulatory filing.

☆ Gap eliminating about 500 corporate jobs as sales fall
▼ + stars: | 2022-09-20 | by ( Stefan Sykes | ) www.cnbc.com time to read: +1 min

The job cuts, which include open positions, will be primarily at Gap's offices in San Francisco, New York and Asia and hit various departments, a representative for the retailer confirmed Tuesday. Gap Inc. is cutting about 500 corporate jobs as the clothing retailer struggles with declining sales. Ye said Gap failed to distribute Yeezy products at its stores by the second half of 2021 and did not create dedicated Yeezy Gap stores as promised. Ye told CNBC he was dissatisfied with progress on launching physical Yeezy stores in partnership with the retailer. Gap later confirmed the break, but said it still plans to work through its Yeezy product pipeline.

☆ Gap eliminates 500 corporate jobs amid shrinking margins
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Gap logo is seen on the front of the company's store on Oxford Street in London, Britain, July 1, 2021. REUTERS/John SibleySept 20 (Reuters) - Gap Inc (GPS.N) is eliminating about 500 corporate jobs, the apparel chain said on Tuesday, as it struggles to protect margins and battles weak sales of outdated clothes at brands including Old Navy. Register now for FREE unlimited access to Reuters.com RegisterShares of the Banana Republic parent declined about 3% in afternoon trade, taking the year-to-date decline to 48%. Late last month, the company withdrew its annual forecasts due to an inventory glut and weak sales. Register now for FREE unlimited access to Reuters.com RegisterReporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Kanye West’s breakup with Gap Inc. reflects a broader trend of celebrities seeking more control over the brands they create or back. But in this instance, Mr. Shabelman said the friction between Mr. West and Gap fits into a larger development in the world of celebrity marketing. Mr. West “doesn’t need those corporations,” said Anjali S. Bal, an associate professor of marketing at Babson College. Mr. West formally notified Gap on Thursday that his Yeezy LLC fashion brand was terminating his partnership with the apparel chain. More recently, tennis champion Naomi Osaka last year began a media company called Hana Kuma in partnership with SpringHill Co., an entertainment firm co-founded by LeBron James.

The company can sell existing Yeezy Gap stocks until the sell-off period, the letter said. West, known as Ye, in 2020 signed a 10-year deal with Gap to create a line of clothing under the Yeezy Gap brand. 1/2 Rapper Kanye West talks on the phone before attending the Versace presentation in New York, U.S. December 2, 2018. Ties between West and Gap have been increasingly strained recently. Gap has been struggling to protect margins and pull in sales, blaming inflation and outdated styles at its Old Navy brand.

☆ Kanye West says he’s terminating his partnership with the Gap
▼ + stars: | 2022-09-15 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

“We wanted to address the headlines of today and the past several weeks related to Yeezy Gap. And we are deciding to wind down the partnership,” Mark Breitbard, president and CEO of Gap Brand, said in the email. As it now moves to wind down the partnership, Gap said existing merchandise from Yeezy Gap will continue to be sold in the company’s stores and its website. West also said that Gap was required to sell 40% of Yeezy Gap products in its retail stores, which hasn’t materialized, according to The Wall Street Journal. “While Kanye could have injected a dose of energy into Gap, the incompatibility of the two visions meant that frustrations were inevitable.

☆ Retailers Stuck With Too Much Inventory Face Risky Decisions
▼ + stars: | 2022-06-03 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +8 min

In the past two weeks, retailers have shown that the anticipated, but hard to time, cooling in consumer demand for goods has arrived. And many retailers reported holding more inventory than they'd like — and the goods they have might not be the ones they need now. Several retailers mentioned late deliveries of spring merchandise, which compounded their inventory glut when mixed with the cooling demand. Quite literally, it means to pack inventory away to sell when its season comes back around. On top of the risk that the product may not be attractive in the future, holding inventory means paying for storage.

☆ How abortion bans widen the gender pay gap and diminish women's economic power
▼ + stars: | 2022-02-26 | by ( Paul Constant | ) www.businessinsider.com time to read: +6 min

He recently spoke with economics professor Caitlin Myers about the impact of abortion bans. Myers said bans hurt women's economic agency, access to education, and careers. How abortion bans strip women of their economic agencyWhen lawmakers and judges outlaw abortion, they immediately erase a wide array of options for the estimated one in four women who have an abortion in their lifetimes. "Women's earnings are a lot closer to men's, and this is true in the United States and other developed countries." By diminishing women's economic power, abortion bans exclude women from fully participating in their lives and in the economy, keeping them politically and economically dependent on men for their survival.

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