Adidas CEO apologizes to Ye amidst controversial collaboration fallout

Adidas' CEO, Bjorn Gulden, has issued an apology for his recent comments speculating on Ye’s controversial remarks that led to the termination of their collaboration. Gulden, who joined Adidas in early 2023 amidst the scandal, made these remarks during an interview on the "In Good Company" podcast. He suggested that West, now known as Ye, may not have meant the offensive statements he made. However, this sparked public outrage, leading Gulden to later apologize for his comments.

Adidas, in a statement to AFP, reaffirmed their decision to end their partnership with Ye due to his unacceptable remarks, indicating that their stance remains unchanged. Gulden's apology for his remarks was acknowledged by the Anti-Defamation League's Jonathan Greenblatt.

Following the split from Ye, Adidas has been selling off its Yeezy branded items. Some of the proceeds from these sales are being directed towards organizations like the ADL and the Philonise and Keeta Floyd Institute for Social Change. Adidas had allocated 110 million euros ($117 million) in the second quarter for charitable donations.

The termination of Adidas' lucrative partnership with Kanye West in October has compounded the sportswear giant's recent financial challenges. Despite recording a modest profit of 84 million euros in the second quarter of this year, Adidas had faced two consecutive quarters of losses prior to this turnaround.