Adidas has officially ended its professional relationship with Kanye West.
Ye confidently said on the Drink Champs podcast earlier this month, “I can say antisemitic sh*t and Adidas cannot drop me.” The company faced increased pressure over this past weekend after neo-Nazi demonstrators placed a banner over the 405 highway in Los Angeles that read, “Kanye is right about the Jews.”
The sneaker company stated “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. 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. Adidas will stop the Adidas Yeezy business with immediate effect.”
Hours later, Gap and then Foot Locker said they would immediately remove Yeezy products from its stores according to CNBC.
“Foot Locker, Inc. does not tolerate any form of antisemitism, or hateful and discriminatory behavior. While we remain a partner with adidas and carry a wide assortment of their collections – we will not be supporting any future Yeezy product drops,” a Foot Locker spokesperson said.
Gap also shut down YeezyGap.com, which now redirects visitors to the Gap website.
According to Forbes, Ye is worth an estimated $400 million without the Adidas deal, which it valued at $1.5 billion.
[…] reported a net loss of $540 million in the fourth quarter of 2022, following the termination of its partnership with Kanye […]