FRANKFURT, Germany — It’s been over seven months since Adidas split with Kanye West, and crates of his popular Yeezy trainers are still piling up in warehouses.
The destiny of 1.2 billion euros ($1.3 billion) in unsold Yeezy goods weighs heavily on the German sportswear firm as it attempts to recover from the loss of the profitable sneaker line and the ongoing fallout from its past links to Ye.
Adidas is “getting closer and closer to making a decision” on what to do with the trainers, and the “options are narrowing,” according to new CEO Bjorn Gulden in a conference call Friday, following a figure of 400 million euros ($441 million) in lost sales at the start of the year.
However, he said no conclusion had been reached because “so many interested parties” were involved in the conversations.
Adidas is stuck with stacks of its signature Yeezy brand sneakers after severing ties with Ye in October due to his antisemitic and other hateful comments on social media and in interviews.
Gulden, who took over as CEO following the Ye split in January, declined to say whether destroying the shoes had been ruled out but said the firm was “trying to avoid that.”
He has previously stated other solutions have drawbacks: selling the trainers would include paying royalties to Ye, restitching them to erase the brand identification would be dishonest, and giving them out to people in need could lead to resale due to their high market value.
Gulden refused to reveal how many pairs of Yeezy shoes Adidas is stuck with “because then the consumer would know how many we have, and that could have an impact on demand.”
“Of course, losing the Yeezy brand is hurting us,” Gulden stated. According to the Herzogenaurach-based company, if Adidas does not sell the remaining Yeezy stock, earnings will be reduced by 500 million euros this year.
Gulden refused to reveal how many pairs of Yeezy shoes Adidas is stuck with.
According to the corporation, net sales fell 1% in the first quarter to 5.27 billion euros but would have increased 9% with the Yeezy line. It reported a net loss of 24 million euros, compared to a profit of 310 million euros at the same time the previous year.
Operating profit, which includes key factors like taxes, fell to 60 million euros from 437 million euros the previous year.
Gulden stated that Adidas’ performance was “a little better than we had expected” as the firm strives to relaunch growth and move past its split with Ye. He described 2023 as a “year of transition” on the road to “a better ’24 and a good ’25.”
The corporation is also dealing with additional issues related to the artist. Investors filed a lawsuit against Adidas in the United States a week ago, arguing that the firm was aware of Ye’s hateful words and detrimental behavior years before the breakup and failed to take preventative measures to limit financial losses.
The complaint, filed on behalf of those who purchased Adidas securities between May 3, 2018, and February 21, 2023, cited 2018 comments in which Ye stated slavery was a “choice” and reports of Ye making antisemitic remarks in front of Adidas employees.
Last week, the corporation rejected “these unfounded claims and will take all necessary measures to vigorously defend ourselves against them.”
The breakup of the Ye partnership also cost Adidas 600 million euros in missed sales in the last three months of 2022, contributing to the company’s net loss of 513 million euros.
According to Adidas, an operating loss of 700 million euros is possible this year, owing mostly to a 500 million-euro damage if the existing Yeezy sneakers are not sold.
SOURCE – (AP)
Heidi Klum Transforms Into a Multi-Person Peacock for Halloween 2023: See Her Show-Stopping Look
The Halloween queen has returned.
Heidi Klum, 50, arrived at her annual Halloween event on Tuesday with a full team for her costume. She dressed up like a peacock for this year’s festival, relying on the support of others for the peacock’s tail feathers.
While arriving at Marquee New York, she (and her colorful entourage) stacked on each other, much like a Cirque du Soleil show, to change into a giant, gorgeous bird.
Heidi Klum, dressed in a cobalt blue bodysuit, was in the center. The America’s Got Talent judge donned an ornate headdress with a finely detailed beak.
On the red carpet, Klum chatted exclusively to PEOPLE about her inspiration for this year’s costume.
“I wanted to do a costume with a large number of people.” I wanted a large group of people who would merge into one entity. “And in my mind, that one thing was the peacock,” she explains.
The entrepreneur went on to say that she flew to Montreal to figure out how to stack everyone.
“My feet are a different pattern, so my feet melt into his legs,” she explains to PEOPLE, revealing how the placement of her feet was vital for the colors of her costume.
Heidi Klum’s husband, Tom Kaulitz, walked the red carpet as an egg.
Rachel Zegler, Ice-T and Coco, Taylor Lautner Tay Dome, and others were among the celebrities in attendance.
According to the model and Project Runway host, this outfit has been in the works for a year. Every year, she throws a star-studded Halloween event and is already planning her next costume the next morning.
Heidi Klum is notorious for going to extraordinary measures for the holiday, such as learning to walk on stilts and putting on hours of prosthetics. Klum used to do her hair and cosmetics, but now she has a staff to assist her.
Heidi Klum has dressed up as a corpse, an old lady, and Princess Fiona from Shrek in the past, among many other famous outfits.
“I always try to find things that people wouldn’t naturally do,” Klum told PEOPLE earlier this year.
Heidi Klum Transforms Into a Multi-Person Peacock for Halloween
Klum’s Halloween costume history includes her Jessica Rabbit look from 2015, which included considerable prosthetics. Klum shared an Instagram video of the procedure, demonstrating how they reproduced the character’s looks.
Klum’s triumphant comeback last year (she had paused the parties due to the COVID outbreak) produced one of her most renowned costumes yet – a worm costume. Klum was rendered unrecognizable by the intense stare, which revealed only her eyes and mouth.
Klum has also made Halloween an interactive event. In 2019, she showcased her getting-ready procedure by transforming herself into a window in New York City. Klum demonstrated her love for Halloween by producing a horror flick to commemorate the eerie season in 2020.
SOURCE – (People)
Piper Laurie, 3-Time Oscar Nominee With Film Credits Such As ‘The Hustler’ And ‘Carrie,’ Dies At 91
Early Saturday morning at her residence in Los Angeles, Piper Laurie, the determined Oscar-nominated actor who once renounced acting entirely in pursuit of a “more meaningful” existence, passed away. Laurie had appeared in several critically acclaimed roles. At the time, she was 91.
Marion Rosenberg, Laurie’s manager, emailed The Associated Press that she passed away of old age. Rosenberg described Laurie as “a marvelous human being and a phenomenal artist.”
Laurie, who was initially identified as Rosetta Jacobs upon her 1949 arrival in Hollywood, was immediately offered a contract with Universal-International, a studio she hated, which earned her a series of starring roles alongside, among others, Ronald Reagan, Rock Hudson and Tony Curtis.
Subsequently, in 1986, she was nominated for an Academy Award for the romantic drama “Children of a Lesser God,” the film adaptation of Stephen King’s horror classic “Carrie,” and the 1961 poolroom drama “The Hustler.” She also appeared in several critically acclaimed roles on television and the stage, including the antagonistic Catherine Martell in David Lynch’s “Twin Peaks” in the 1990s.
At seventeen, Laurie debuted in the film “Louisa” as Reagan’s daughter before appearing in “Francis Goes to the Races” opposite Francis the talking mule. She previously dated Curtis, with whom she collaborated on several films, including “Johnny Dark,” “The Prince Who Was a Thief,” “No Room for the Groom,” and “Son of Ali Baba.”
In 1955, she quit her $ 2,000-per-week job and vowed not to work again unless offered a respectable role.
She relocated to New York, where she secured the theatrical and live television drama roles she desired.
Emmy nominations for her performances in “Days of Wine and Roses,” “The Deaf Heart,” and “The Road That Led After” facilitated her return to the film industry, where she starred in “The Hustler,” an acclaimed production, as Paul Newman’s troubled fiancée.
After that, Laurie turned her back on acting for many years. She wed film critic Joseph Morgenstern, had a daughter named Ann Grace, and relocated to a Woodstock, New York estate. She later explained that the Civil Rights Movement and the Vietnam War influenced her adjustment.
“I was disillusioned and searching for a more meaningful existence,” she recalled, adding that she has never regretted the decision.
She declared, “My life was full,” in 1990. “I have always enjoyed working with my hands, and I have always been an artist.”
Laurie gained recognition for her baking abilities when The New York Times published her recipes.
She participated in a tour of college campuses with a dozen musicians and actors in 1972 to support Sen. George McGovern’s presidential campaign. This was her only performance during that period.
Laurie was finally prepared to resume her acting career when director Brian De Palma contacted her regarding the role of Sissy Spacek’s deranged mother in “Carrie.”
Initially perceiving the script as unsatisfactory, she ultimately resolved to perform the role for amusement purposes. De Palma’s reprimand for imbuing a scene with humor made her realize he intended the film to be a suspense thriller.
“Carrie” was an Academy Award winner that sparked a trend toward films about adolescents in peril, and both Spacek and Laurie received Academy Award nominations.
Reinvigorated by her ambition to perform, Laurie resumed an extensive career spanning decades. She appeared in television series including “Murder, She Wrote,” “Matlock,” and “Frasier,” and on “ER” as the mother of George Clooney.
SOURCE – (AP)
Marc Bohan, Former Dior Creative Director And Friend To The Stars, Dies At Age 97
Marc Bohan, Dior’s longest-serving creative director, has died at the age of 97. Hollywood aristocrats such as Grace Kelly and Elizabeth Taylor wore their thin silhouette designs.
After his predecessor, Yves Saint Laurent, was inducted into the French military in 1960, Bohan was selected to oversee the French label. From 1961 through 1989, he served as artistic director for the brand, delivering exquisite and subtle tailored outfits for the modern woman.
In 1961, he launched the “slim” look, a thin version of Dior’s iconic design with feminine shoulders and sensuously refined skirts, in his first couture collection for the house.
Bohan’s death was confirmed by Dior on Friday, who described him as an “immense visionary and passionate creator” who left his stamp on the fashion company.
“Marc Bohan was a unique creator dear to the heart of our House, infusing Dior elegance with his free spirit,” said Dior CEO Delphine Arnault. “A man of enormous talent who profoundly influenced both our history and fashion history.”
Marc Bohan, Dior’s longest-serving creative director, has died at the age of 97.
The couturier became great friends with Princess Grace of Monaco while working at Dior; thus, her wardrobe paid respect to his work as the two shared the same idea of elegance and flair. Even outside his friendship network, Hollywood influenced Marc’s work: in 1966, he created a collection with fur trim and long coats inspired by “Doctor Zhivago.”
Although Marc tried to remain out of the spotlight — he was often described as modest and discreet – his ideas kept him there. Bohan was commissioned to design the magnificent coronation gown for Iran’s then-empress, Farah Diba Pahlavi, in 1967.
During his time at Dior, Marc expanded the brand’s offerings, from starting Dior’s baby shop to creating Miss Dior and Dior Monsieur lines for young ladies and men. He was also lauded for arranging Dior’s first Indian shows.
In 1989, Gianfranco Ferré took over the fashion house from Bohan. Marc left Dior and relocated to London, where he joined the illustrious house of Norman Hartnell, a couturier for the British royal family. His daughter is the only survivor.
SOURCE – (AP)
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