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Why Adidas might blame Kanye West for a stumble

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Why Adidas might blame Kanye West for a stumble

Why Adidas might blame Kanye West for a stumble

Adidas' sales growth has slowed, and the German sportswear giant says one reason is a weaker performance by Yeezy shoes designed for it by Kanye West.

Julian Satterthwaite reports.

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Why Adidas might blame Kanye West for a stumble

Adidas shares took a tumble on Wednesday.

Down close to 3% by early afternoon.

Blame Kanye West, sort of.

The German sportswear giant says sales of his Yeezy footwear levelled off.

They couldn't maintain the surge seen after a major launch last year.

That's one factor behind slower growth online and in the Chinese market.

Footwear sales up just one percent overall, while third-quarter operating profits came in flat at a little under a billion dollars.

But Adidas is bullish about the coming months.

New soccer merchandise ahead of the 2020 European championships is expected to provide a boost.

As is a new London megastore for the brand.

Adidas isn't giving up on celebrity alliances either.

They're seen as on big factor helping it close the gap with

Class="kln">Nike in North America.

The fourth quarter will see another big-name unveiling... Singer Beyonce the latest to put her name on a line of sneakers.




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