Adidas and Kanye West‘s near 10-year relationship is officially done.
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Following a string of rash and offensive behavior from the rapper and designer, the German sportswear company is severing ties with Ye. The move comes weeks after the partnership was “under review” following online statements he made against the company and several key members.
“After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies,” the company said in a statement.
The company said it does not tolerate antisemitism and any other sort of hate speech and said Ye’s recent actions violated the company’s values of diversity and inclusion, mutual respect and fairness. The company expects a short-term loss of $246 million in net income due to high seasonality in the fourth quarter.
Ye and Adidas began working together in 2013, and in 2016, the Yeezy brand was formally introduced. In a recent podcast, the rapper said, “I can say anti-Semitic things, and Adidas can’t drop me. Now what?” Several organizations called on Adidas to end their relationship with Ye then and stock prices plummeted before the company announced Tuesday.
Several Companies Cut Ties With Ye
Several of Ye’s most noted partners have recently walked away from doing business with him. His agency, CAA, dropped him as a client on Monday (October 24) and Def Jam Records no longer lists Ye as an artist, despite him fulfilling his contractual obligations for the company with the release of Donda 2 in February. Additionally, his G.O.O.D Music label is no longer part of Def Jam as Pusha T completed his contractual obligations to the company with the release of It’s Almost Dry in April.
Adidas Ends Partnership With Kanye West Over Recent Remarks was originally published on hot1009.com