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FRANKFURT, Germany (AP) — Adidas said it might have to write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The company included the possible write-off of the remaining Yeezy inventory in its outlook Wednesday for its earnings this year, narrowing its expected loss to 100 million euros from an earlier prediction of 450 million euros, thanks in part to the earlier two releases of Yeezy shoes. CEO Bjorn Gulden, who took over after the Yeezy breakup, is leading an effort to recover from the loss of the profitable Yeezy business. He declined to say what the company would do with the shoes if they remain unsold. The breakup with Ye left the company, based in Herzogenaurach, Germany, with 1.2 billion euros worth of unsold Yeezys and searching for a responsible way to dispose of them.
Persons: , Ye, Philonise Floyd, George Floyd, Bjorn Gulden, Gulden, Organizations: — Adidas, Kanye, Adidas, Defamation League, Keeta Floyd Institute for Social Locations: FRANKFURT, Germany, Israel, Gaza, Herzogenaurach
Its "SmartListen" feature uses patented AI-powered voice control to allow users to interact with videos in real-time. Adventr founder Devo Harris was previously a Grammy award-winning producer and music executive, who worked with artists like Kanye West and John Legend. The following week, Harris uploaded the same video but added interactive buttons so users could choose which scene to watch next. 23andMe used Adventr to let its customers ask a video of a genetic counselor whether they're likely to inherit a disease their parent has, for example. In the next six to 12 months, Harris says Adventr wants to incorporate more large language models and generative AI technology to make its voice controls more sophisticated.
Persons: Adventr, Devo Harris, John Legend, Siri, Kanye, Harris, X, 23andMe, they're Organizations: Paladin, Reinventure, Ventures, YouTube, Chevy, Disney, Twitter Locations: York, Adventr, Paris
and USA Basketball, Kim Kardashian was sitting in her office in Calabasas, Calif., framed by two picture windows that offered views of manicured green lawns, and talking about size. Her long hair was dark brown again, after another brief platinum period, and framed her face as neatly as the view outside. I don’t really start out to do anything not the biggest possible.”This is Kim the mogul. Founded four years ago, the brand went from being valued at $1.6 billion in 2021 to $4 billion last summer. In between, it became the official underwear outfitter of Team U.S.A. for the 2021 Tokyo Olympics, and won the 2022 Innovation Award from the Council of Fashion Designers of America.
Persons: Skims, Kim Kardashian, , Kim, Kanye, MJ Corey, Organizations: USA, Team U.S.A, of Fashion Designers of America Locations: Calabasas , Calif, , Skims
More details of Kanye West's conduct during his partnership with Adidas were revealed by The New York Times. The rapper drew a swastika on a shoe design and told a Jewish employee to kiss a photo of Hitler, per the Times. In another detail of his troubling antisemitic behaviour, Ye told one Jewish manager at the company to kiss a picture of Hitler every day. The last Adidas Yeezy restock AdidasAdidas CEO Bjørn Gulden has defended Ye, saying that the rapper had been misunderstood. The company told the Times it had "no tolerance for hate speech and offensive behavior, which is why the company terminated the Adidas Yeezy partnership."
Persons: Kanye, Hitler, Ye, , Adidas Yeezy, Bjørn Gulden Organizations: Adidas, The New York Times, Times, Service, New York Times, Adidas Adidas Locations: Germany
RIYADH, Saudi Arabia (AP) — Former UFC champion Francis Ngannou shockingly went the distance in his boxing debut early Sunday morning, even knocking down reigning WBC heavyweight champion Tyson Fury at one point, but Fury remained undefeated after winning a split decision. Two judges gave Fury the fight by scores of 96-93 and 95-94, and the other judge favored Ngannou 95-94. Good thing for Fury, because Ngannou showed early in the scheduled 10-round fight that he wasn't going anywhere. Ngannou staggered Fury early in the fourth, but Fury stayed on his feet and the rest of the round was fairly even after that. Former heavyweight champion Mike Tyson, who also made the trip to Saudi Arabia, helped Ngannou get ready for his boxing debut.
Persons: , Francis Ngannou, Tyson Fury, Fury, Ngannou, Ngannou's, FanDuel, “ Francis, Francis, , Kanye West, Eminem, Cristiano Ronaldo, Conor McGregor, Sugar Ray Leonard, Manny Pacquiao, Brit, Lil Baby, Becky G, Mike Tyson, Ngannou hasn't, Ciryl Gane, Dana White, Oleksandr Usyk, Fabio Wardley, David Adeleye, John Latham, Adeleye, Latham, ___ Organizations: UFC, WBC, Ngannou's UFC, WWE, Netflix, Professional Fighters League, PFL, British, Commonwealth Boxing, WBO Locations: RIYADH, Saudi Arabia, Ngannou, Riyadh, Cameroon, Las Vegas, Ukrainian
LOS ANGELES (AP) — Taylor Swift’s reimagined “1989” is here, the album that ushered in the first Peak Swift era — revisited at the height of her massive pop culture dominance. Swift had shed the Nashville country roots of her first four studio albums and announced herself a full-fledged pop superstar. In 2014, that was Swift finding her pop sound with “1989.”In 2023, it’s becoming the most successful version of herself, and rereleasing “1989 ” while on the top of her game. She’s moved to NYC; she’s working with new people; she’s making synth pop. In 2023, Swift is more famous now than she was then, and she's still engaging with her celebrity in a very public way.
Persons: — Taylor, Swift, , Swift —, Jack Antonoff —, , Scooter Braun’s, it’s, Travis Kelce, Brittany Spanos, who’s, haven’t, Rebecca Jennings, , rereleasing, Spanos, New York University’s, Davis, Janet Jackson’s, Christina Aguilera’s “, Swift’s, She’s, Rachel Brodsky, couldn’t, ” Brodsky, Shania Twain, LeAnn Rimes, Brodsky, Kacey Musgraves, Maren Morris, Olivia Rodrigo, She’d, Beyoncé, Katy Perry, Taylor, Kanye, Drake, Kendrick Lamar, she's, Jennings, Taylor Swift’s, Blake Lively, Sophie Turner, Selena Gomez, she’s, Harry Styles —, ” Spanos, what’s Organizations: ANGELES, NFL, Kansas City Chiefs, Vox, New York, Davis Institute Locations: Nashville, New York, New, NYC, Buenos Aires, Argentina
When Adidas cut ties with Kanye West a year ago, ending their wildly lucrative shoe deal, the breakup appeared to be the culmination of weeks of his inflammatory remarks about Jews and Black Lives Matter. But a New York Times examination found that behind the scenes, the partnership was fraught from the start. Mr. West, who now goes by Ye, subjected employees to antisemitic and crude sexual comments and routine verbal abuse. As Adidas executives doubled down on a partnership that boosted company profits and made Mr. West a billionaire, they scrambled for ways to cope with the star’s demands and provocations. Interviews with current and former employees of Adidas and of Mr. West, along with hundreds of previously undisclosed internal records, including contracts, text messages and financial documents, provide the fullest accounting yet of the relationship.
Persons: Ye, West Organizations: Adidas, Kanye West, New York Times
Investigating Kanye
  + stars: | 2023-10-27 | by ( Megan Twohey | More About Megan Twohey | ) www.nytimes.com   time to read: +1 min
When Adidas ended its wildly lucrative shoe deal with Kanye West, who now goes by Ye, a year ago, the breakup appeared to be the culmination of weeks of his inflammatory remarks about Jews and Black Lives Matter. But our examination found that behind the scenes, the partnership was fraught from the start. The partnership, which began in 2013, boosted company profits and made West a billionaire. He later told a Jewish Adidas manager to kiss a portrait of Hitler every day. And West told Adidas colleagues that he admired Hitler’s command of propaganda.
Persons: Kanye West, Ye, it’s, Hitler Organizations: Adidas, Kanye, West Locations: West, Germany
Kanye West was reportedly so difficult to deal with that it took a toll on the Adidas team working with him. A New York Times investigation found that the team had to have group therapy-like sessions to deal with the stress. AdvertisementAdvertisementMembers of the Adidas team working with Kanye West were given a subscription to a meditation app and regularly had group therapy-like sessions to deal with the stress of working with the rapper, a New York Times investigation found. They were also given a subscription to a meditation app and regularly held group therapy-like sessions, the outlet reported. In 2013, the year that Adidas and Ye unveiled their partnership, the brand's sales in North America were down 1%.
Persons: Kanye, , Ye, Hitler, Eric Liedtke, Liedtke Organizations: Adidas, New York Times, West, Service, Kanye, Times, TMZ Locations: North America
LAS VEGAS (AP) — The GOP presidential candidates will compete for donors and offer their strong support for Israel in its war with Hamas as they address the annual gathering of a major Republican Jewish group this weekend. In the wake of the attack, the Republican National Committee announced that the Republican Jewish Coalition will be co-sponsoring the third GOP presidential debate, scheduled for Nov. 8 in Miami. His widow, Miriam Adelson, has remained a major party donor and benefactor for the Republican Jewish Coalition but has vowed to stay neutral in the presidential primary. The event marks the first time most of the GOP candidates have made their way to Nevada, a state expected to be the third to weigh in on the field in voting early next year. Separate from the Jewish Coalition, DeSantis is to speak Saturday morning to a Nevada Republican group at a casino-resort on the Las Vegas Strip.
Persons: Donald Trump, Sheldon Adelson, Adelson, Miriam Adelson, , Matt Brooks, there’s, ” Trump, Trump, Joe Biden's, Biden, Biden's, Kanye, Ye, Benjamin Netanyahu, Netanyahu, recommitting, ” Brooks, , Ron DeSantis, Nikki Haley, Haley, DeSantis, South Carolina Sen, Tim Scott, Mike Pence, Chris Christie, Vivek Ramaswamy, Doug Burgum, Lindsey Graham, Florida Sen, Rick Scott, South Dakota Sen, John Thune, it’s, That’s, Pence, Scott —, they’ve Organizations: LAS VEGAS, , GOP, Israel, Republican Jewish, Republican National Committee, Republican Jewish Coalition, Republican White House, Trump, Coalition, Republican Party, Embassy, U.S . Capitol, Israeli, Florida Gov, United Nations, South, New, New Jersey Gov, North Dakota Gov, Las, Jewish Coalition, Nevada Republican Locations: Las Vegas, Israel, Gaza, U.S, Miami, Jerusalem, South Carolina, New Jersey, Florida, South Dakota, Nevada
Ivanka Trump has spent the past two and half years publicly distancing from her father Donald Trump. But Mitra Ahouraian, an entertainment attorney with high-profile clients, said she wasn't surprised to see Ivanka Trump and Kardashian together. Ivanka was a Manhattan socialite before entering politics changed her reputationBefore her stint in politics, Ivanka Trump was an active Manhattan socialite, frequently appearing at red-carpet events and supporting various charitable causes. Ivanka Trump and Kim Kardashian have known each other for yearsAs for Kardashian's embrace of Ivanka Trump, their relationship goes back years. But after the birthday party showing this weekend, it's clear Ivanka Trump is visibly back in Kim Kardashian's circle, and has re-entered the role of Ivanka Trump, the socialite.
Persons: Ivanka, Kim Kardashian's, , Ivanka Trump, Donald Trump, it's, Donald Trump's, Kim Kardashian, Kardashian, Trump, Hailey Bieber, Lauren Sanchez, Jeff Bezos, Mitra Ahouraian, wasn't, Ahouraian, I'm, Robert Kardashian, OJ Simpson, Andrew Lieb, Lieb, she's, Donald, Jr, " Lieb, Nordstrom, Neiman Marcus, She's, Funke, JB Lacroix, Kushner, Kanye, Alice Marie Johnson, Jared Kushner, Kardashian's, Jared Organizations: Ivanka Trump, Service, Amazon, Trump Organization, House, Trump, Donald Trump White House Locations: Funke, Beverly Hills , California, Manhattan, Washington, New York, Los Angeles , California, Beverly Hills, West
Dov Charney is trying to prevent his Silver Lake mansion from being sold in bankruptcy proceedings. A sprawling, 20-room estate, the Garbutt House is located in the gated Hathaway Hills Estates community in a residential neighborhood of Los Angeles. The structure was built with its original owner's deathly fear of fire in mind, the Times reported. He declined to respond to the Times reporter's questions about the Garbutt House, calling the requests "audacious and impertinent." It remains unclear whether he lives or has lived at the Garbutt House.
Persons: Dov Charney, Milo Yiannopoulos, , Dov Charney slogs, Ian Connor, Milo Yiannopoulos —, Frank A, Charney, Connor, Brad Krasnoff, Krasnoff, Yiannopoulos, Eric Israel, Ye — Yiannopoulous, Bruce Marks Organizations: American Apparel, Service, Kanye West, Charney's, Los Angeles Times, Estates, Times, Los Angeles Apparel, Apex Locations: California, Hathaway, Los Angeles
His masterful, theatrical buildups, full of relentless bass lines, pounding synths and prismatic arpeggios, blasted from the speakers as a single disco ball sparkled overhead. But Christ, born Joshua Leary, didn’t always know how to work a room like this. Most artists don’t drop their debut a decade after their breakthrough, but Christ, 34, has long chosen the unconventional path. His skill for that approach endeared him to ravers across the globe, in part because he has long been devoted to trance, an often-derided genre of dance music rooted in big climaxes and unabashed sentimentality. On “Revanchist” he leans into it at a critical moment in the sound’s bubbling comeback, making a statement about its relevance and power.
Persons: chunky, Evian Christ, Joshua Leary, didn’t, , Kanye West, Travis Scott, Danny Brown Organizations: Evian, Kanye, Trance Party Locations: New York, Brooklyn, British, Ellesmere Port,
Adidas shares jump after 2023 guidance raise
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A person looks at clothes in the Adidas store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022. REUTERS/Andrew Kelly Acquire Licensing RightsLONDON, Oct 18 (Reuters) - Shares in Adidas (ADSGn.DE) gained 4% at the open on Wednesday after the sportswear company raised its guidance for the year in a surprise third-quarter results pre-release. Adidas said it now expects a loss of 100 million euros ($106 million) this year versus a previously expected loss of 450 million and a loss of 700 million euros it warned of in February. It is the second time this year Adidas has raised forecasts ahead of results - expected on Nov. 8 - as sales of its remaining stock of Yeezy shoes helped boost revenue. Reporting by Helen Reid; editing by Jason Neely and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrew Kelly, Bjorn Gulden's, Ye, Bjorn Gulden, Graham Renwick, Helen Reid, Jason Neely, Louise Heavens Organizations: Adidas, Woodbury, REUTERS, Berenberg, Thomson Locations: Central Valley , New York, U.S, Europe, China
Shoes are offered for sale at an Adidas store in Chicago, Feb. 10, 2023. Adidas on Tuesday hiked its full-year guidance and posted stronger-than-expected third-quarter earnings, aided by sales of its Yeezy inventory. Third-quarter operating profit came in at 409 million euros, down from 564 million for the same quarter in 2022. "While the company's performance in the quarter was again positively impacted by the sale of parts of its remaining Yeezy inventory, the underlying adidas business also developed better than expected," Adidas said in its earnings report. It has since been working to sell off its remaining inventory of his trademark Yeezy sneakers.
Persons: Ye Organizations: Adidas, adidas Locations: Chicago, Europe,
Kanye West's law firm filed 26 requests with a Californian court to trademark the term "YEWS." The applicant is seeking exclusive rights to the term in sectors like finance and fashion. AdvertisementAdvertisementKanye West, now known as Ye, is seemingly trying to secure trademark rights for the use of the term "YEWS" across a range of sectors. Twenty-six filings were made in California on October 2 to the US Patent and Trademark Office (PTO) to trademark the term. AdvertisementAdvertisementAccording to the documents, shared in full by Gerben Law, Ye is seeking exclusive rights to the "YEWS" trademark for use on everything from clothing to restaurants and gambling.
Persons: Kanye, , Ye, Weeks Nelson, Gerben Law, Jonathan Leibson, Adolf Hitler, Hitler, Alex Klein, Klein Organizations: Service, Office, Paha Inc, Gerben, Adidas, Twitter Locations: California
CNN —X, the social media company formerly known as Twitter, has scrapped a feature that lets users self-report political misinformation on the platform, a research group says, marking the latest safety-focused guardrail that X has rolled back since billionaire Elon Musk took the helm. “There now appears to be no channel to report electoral misinformation when discovered on your platform,” the letter from Reset Australia states. X users, notably, can still report content on the platform for violations in other categories — such as “Hate,” “Abuse & Harassment,” and “Violent Speech,” among other issues. The feature allowed users to report a post as “it’s misleading” when they encountered problematic political content. In January 2022, the company said it was expanding the misinformation reporting feature to more countries and users.
Persons: Elon Musk, Musk, Donald Trump, Kanye, X, Organizations: CNN, Australia, United, Twitter, Kanye West Locations: Australia, South Korea
Short-term lending company CreditNinja is mad about the SBA denying them loan forgiveness. The company charges interest rates as high as 447% in Texas, per KHOU. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. According to Forbes, Kanye West's fashion company Yeezy received over $2 million in PPP loans. Artist Jeff Koons, also notably rich, received a $1.1 million PPP loan in April 2020, according to ProPublica.
Persons: Seamus Hughes's CourtWatch, CreditNinja, CreditNinja wasn't, , Kanye, Yeezy, Jeff Koons Organizations: SBA, Service, Court, Southern Division, Small Business Association, Relief, Economic, Forbes Locations: Texas, Wall, Silicon, Illinois
The head of the Anti-Defamation League said in a post on X on Thursday that he was in touch with Adidas CEO Bjorn Gulden who apologized for his remarks about Kanye West and reiterated the sportswear company's fight to end antisemitism. “I think Kanye West is one of the most creative people in the world,” Gulden said in an episode released Sept. 12. “Very unfortunate, because I don’t think he meant what he said and I don’t think he’s a bad person. In a statement emailed to The Associated Press on Thursday, Adidas confirmed that the company had been in touch with ADL. Almost a year ago, Adidas ended a major partnership with Ye over his statements, discontinued Ye’s line of Yeezy shoes and moved up the planned departure of its CEO.
Persons: Bjorn Gulden, Kanye, Jonathan Greenblatt's, Gulden's, Ye, , Gulden, Greenblatt, , Ted Deutch, David Hamilton Organizations: Defamation League, Adidas, Associated Press, ” Adidas, Jewish, AP Locations: , San Francisco
Adidas CEO: Kanye West didn't mean antisemitic remarks
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +2 min
BERLIN, Sept 20 (Reuters) - Adidas CEO Bjorn Gulden has defended the artist formerly known as Kanye West, saying he didn't think the divisive celebrity meant the antisemitic remarks that led to his lucrative Yeezy collaboration with the German sportswear giant being axed. Commenting on the scandal which has cost Adidas tens of millions in lost sales, Gulden told the In Good Company podcast that Ye had made some statements that weren't "that good". Adidas did not respond to Reuters' emailed request for comment on the podcast interview. Strong sales of Yeezy stocks have helped narrow a projected full-year loss at the company. In the podcast, Gulden spoke of the dangers of working with celebrity collaborators: "When you work with third parties that could happen," he said.
Persons: Bjorn Gulden, Gulden, Ye, Rachel More, Mark Potter Organizations: Adidas, West, Good Company, Reuters, Puma, Gulden, Thomson
New York CNN —Adidas CEO Bjørn Gulden said he doesn’t think Kanye West “meant what he said” when the rapper spewed antisemitic comments last year. “Very unfortunate, because I don’t think he meant what he said, and I don’t think he’s a bad person. His comments garnered global outrage and a few days later Adidas ended its nine-year business relationship with him. Prior to those comments, Adidas put the “partnership under review” after he wore a “White Lives Matter” T-shirt in public. It now expects to make a €450 million ($491 million) operating loss in 2023, a much better outcome than the €700 million ($764 million) loss it had forecast back in March.
Persons: Bjørn Gulden, , Ye, Gulden, ” Gulden, Adidas didn’t, West Organizations: New, New York CNN, Adidas, West, White, Ku Klux Klan, British, Manchester United Locations: New York, Norwegian
SAN FRANCISCO (AP) — Adidas CEO Bjørn Gulden said he doubts that Ye, the artist formerly known as Kanye West, "meant what he said” when he made a series of antisemitic and other offensive remarks last year. Almost a year ago, Adidas ended a major partnership with Ye over his statements, discontinued Ye’s line of Yeezy shoes and moved up the planned departure of its CEO. “Very unfortunate, because I don’t think he meant what he said and I don’t think he’s a bad person. The break with Ye left Adidas with a huge supply of unsold Yeezy sneakers that it has begun to sell in limited batches. The company has not said how many of those shoes remain in inventory, although the unsold shoes and Ye's departure impacted Adidas profits.
Persons: Bjørn Gulden, Ye, Gulden, , , Ye’s, Kim Kardashian, David Organizations: FRANCISCO, Adidas, Good, Paris Fashion, Star, Defamation League, Keeta Floyd Institute for Social Locations: U.S
Following widespread public outcry, Adidas announced it had ended its relationship with Ye, stopped production of Yeezy-branded products and ended all payments to Ye and his companies. Foot Locker and Gap soon followed suit and announced they would pull Yeezy products from their stores. That can happen with an athlete, it can happen with an entertainer, so it's part of the business," said Gulden. Despite the public comments from its chief executive, an Adidas spokesperson told CNBC that the company's position on Ye "has not changed." Adidas CEO Bjorn Gulden defended Ye, the artist formerly known as Kanye West, and said the rapper didn't mean it when he made a series of antisemitic remarks.
Persons: Nicolai Tangen's, Gulden, Ye, Adi, Bjorn Gulden Organizations: Adidas, CNBC Locations: Chicago, German
He worked at Kanye West’s Yeezy on shapely futuristic military boots (top row, middle). At Versace, he brought to life the gold-necklace-inspired Chain Reaction sneaker (top row, third from left), helping to usher in the trend of chunky dad sneakers. He worked at Kanye West’s Yeezy on shapely futuristic military boots (top row, middle). At Versace, he brought to life the gold-necklace-inspired Chain Reaction sneaker (top row, left), helping to usher in the trend of chunky dad sneakers.
Organizations: Kanye, Versace
CNN —Taylor Swift made the whole place shimmer at the MTV Video Music Awards on Tuesday night, when she won the award for video of the year for the second time in a row. Last year, Swift won the same award for her “All Too Well (10 Minute Version) (Taylor’s Version)” music video. Tuesday’s wins come as Swift continues what’s arguably her most successful era yet, which started in 2022 when she released her 10th studio album “Midnights.”Taylor Swift at the MTV Video Music Awards in New Jersey on Tuesday. She also made an ultimately short-lived amends with West when she presented him with the Michael Jackson Video Vanguard Award that year. And in 2022, she announced that she’d be releasing “Midnights” while accepting the award for best longform video.
Persons: CNN — Taylor Swift, shimmer, Swift, Bejeweled, ” Swift, Tuesday’s, what’s, ” Taylor Swift, Timothy A, Clary, , she’s, Kanye West, , Karlie Kloss, Selena Gomez, Gigi Hadid, Hailee Steinfeld, Cara Delevingne, Michael Jackson Organizations: CNN, MTV, , Getty Locations: New Jersey, AFP
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