Talk about timing! German-based Adidas reported its first-quarter earnings today, results that were viewed as disappointing because sales came in light in Western Europe.
While having to deal with multiple product-related questions, CEO Kasper Rorsted also had to address Kanye West’s controversial comments from a visit to TMZ where he said slavery was a choice.
“We are not comment nor speculating on every single comment our external creators are making,” said Rorsted. “Kanye has been and is a very important part of our strategy and has been a fantastic creator. And that’s where I’m going to leave it. I’m not going to comment on every comment her or anyone else is making. That’s the party line at this stage.”
When asked to break out the financial worth of the Yeezy brand, Rorsted provided the company’s total 2017 revenue figure and added, “Kanye and the Yeezy is a very important part of our brand, from a revenue standpoint less so, but it’s a very important part of how we promote our product particularly in the U.S. and other parts of the world.”
When asked whether there were any internal conversations about dropping West, Rorsted curtly responded, “No.”
Adidas was trading down following the earnings results, which were viewed as disappointing versus expectations.
Check out the exchange below.