NEW DELHI — The former managing director of Adidas India Pvt. Ltd. has sued the company for 150 million rupees, or $2.8 million, over allegations of financial irregularities in the subsidiary.
Subhinder Singh Prem sent a legal notice to Adidas AG last week following the German sportswear giant’s statements that financial irregularities amounting to 125 million euros, or $165.8 million, resulted in a pretax loss in India in the first quarter. Adidas said it also may need to spend another 70 million euros, or $92.8 million, to restructure the Indian operations.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"