Rupert Campbell, President of adidas North America, speaks during the Anti-Defamation League's "Never is Now" summit at the Jacob Javits Convention Center in Manhattan in New York City, New York, U.S., November 10, 2022. "We want to double down on all of the things that are U.S.-centric, particularly around sport," Rupert Campbell, the company's North America president, was quoted as saying in an interview. Apart from ending the Yeezy collaboration, Adidas has also stopped its Ivy Park collaboration with pop star Beyoncé according to media reports, with the contract set to expire at the end of this year. The Yeezy split cost Adidas 600 million euros in sales in the fourth quarter of 2022 and could cause the German sporting goods maker to post its first annual loss in three decades this year, Adidas said last month. Talking on the overall U.S. sporting-goods market, the world's biggest, Campbell said: "We have to show our credentials in this space."

Source: Wall Street Journal April 30, 2023 12:16 UTC