Adidas Profit Drops 83% After It Stopped Working With Yeezy, Withdrawal From Russia
Adidas saw its net profit fall by 83%, from 2021 to 2022, after a difficult year for the company including dropping its partnership with Ye, the rapper formerly known as Kanye West, as The Wall Street Journal reported. Yeezy merchandise drops would typically sell out in minutes. The company’s chief financial officer, Harm Ohlmeyer, attributed…