Adidas has $500 million worth of Kanye West sneakers and no good options

Shortly after NFL star Michael Vick was indicted in July 2007 for running a dog fighting operation, Nike suspended the release of his signature shoe line. Vick went on to plead guilty and have his contract suspended, but less clear is what exactly happened to all those sneakers.

Nike would not say, but industry analyst Matt Powell believes it destroyed its supply of Air Zoom Vick Vs.

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Adidas now has a similar dilemma with its Yeezy line, observers say, except on a scale unseen in the fashion industry. Months after cutting ties with rapper and fashion designer Kanye West over his flagrant antisemitism, the German company on Feb. 9 warned it was looking at massive losses if it couldn’t sell its inventory, raising questions about its options for the now-tainted brand, including literally

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Online fashion retailer Zalando to lay off hundreds of employees

Online fashion retailer Zalando to lay off hundreds of employees

German online fashion retailer Zalando said it was cutting hundreds of jobs across its workforce of 17,000, saying it had expanded too much and citing a difficult economic environment since the coronavirus pandemic.

“We have decided to start a program that will remove several hundred overhead roles across many of our teams,” it said in a statement. “Over the last few years, some parts of our company have expanded too much and we have added a degree of complexity to our organization that impacted our ability to act fast.”

The planned job cuts were first reported in the Financial Times, which said the online retailer’s workforce would shrink by up to 5%.

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Shares in the company were down 1.6% at 1046 GMT. In its last quarterly earnings report in November, Zalando said it expected full-year revenues and operating profit to reach the lower end of its target range,

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One of world’s largest cosmetics companies starts scholarship fund with local community college | Southeastern Pennsylvania

NEWTOWN, Pa. – Cosmetics giant Estée Lauder has had a presence in Bucks County for around three decades, and now it’s reinvesting locally to build up its talent supply.

The company announced a donation of $200,000 to Bucks County Community College to launch the Supply Chain Scholars program.

“We saw this partnership was really a marriage made in heaven for us to really invest in that community, invest in the workforce of the future,” said Saverio Marcario, Vice President of North American Manufacturing at Estée Lauder Companies.

It’s the largest corporate donation in the college’s history and covers full tuition for students to attend Bucks the first two years, and then finish their education at Temple University.

Students also can get mentorship and hands-on experience at the company’s facilities in nearby Bristol.

“It really is a great opportunity for young professionals to come in and learn from the ground up,”

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Stila Cosmetics hires new chief executive and independent manager


Stila Cosmetics has appointed an independent manager to help guide the company and also hired Michelle Kluz as chief executive.

Kevin Carey, senior counsel at Hogan Lovells’ corporate and finance practice group, will serve as manager of Stila Styles with responsibility for guiding the Stila leadership to “set a course that will be in the best interest of its employees, business partners and customers”.

Meanwhile Kluz has been appointed to head up the company after working as an independent advisor in recent years. This included serving as interim chief executive at cannabis operator Ascend Wellness.

Earlier in her career, she was hired as chief executive of Tough Mudder Bootcamps on the founder’s exit and turned it into a successful franchise. Prior to that, she was chief executive of Pure Barre and held the same role at BBRC in Australia

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