Adidas has announced that they are terminating their partnership with Kanye West over his anti-semitic comments.
The decision, which puts an end to a lucrative partnership that gave rise to the well-known Yeezy shoe line, was made after weeks of pressure from human rights activists on the German sportswear brand and after other companies broke their relations with the rapper. Gap Inc., MRC, a film and television company who recently scrapped a completed documentary, his talent agency CAA and French fashion label Balenciaga are a few businesses that have cut ties with Ye recently.
“Adidas does not tolerate antisemitism and any other sort of hate speech. Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness,” the company said in a statement on Tuesday morning.
The German-based business announced it will discontinue the collaboration right away, stop making products with the Yeezy name, and stop paying Ye and his businesses. The decision is anticipated to reduce the company’s profit this year by up to 250 million euros ($246 million), it said.
Read the full statement below.
Ye is still the owner of the Yeezy brand but its future remains unclear. The “sole owner” of all design rights to already-produced items resulting from the agreement, as well as to prior and future hues will be Adidas, they claimed statement.