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Adidas, Nike Must Pick Up the Pieces After Antisemitism Ruins Deals

Billions of dollars in revenue were wiped out at the world’s two largest sportswear companies due to antisemitism scandals over the past two weeks, leaving executives to survey the damage as the dust settles at Adidas AG and Nike Inc.

A reseller holds a Yeezy 350 sneaker to show the Adidas and Yeezy branding inside. — Adidas is picking up the pieces following termination of the Yeezy deal. (Getty Images)

By

Bloomberg

08 November 2022

The road back to normalcy will be much rockier for Adidas than for its longtime rival. Its breakup with rapper and designer Ye, formerly known as Kanye West, over his outbursts ended one of the most lucrative sneaker arrangements in the industry’s history and leaves a gaping hole in the company’s earnings that may be as large as €‎250 million ($251 million). Nike’s suspension of its shoe line with basketball star Kyrie Irving after he refused to disavow antisemitism presents a less painful headache.

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