Adidas has announced it has parted ways with Kanye West following his recent rants against the Jewish community.
“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 statement reads.
The brand is stopping all payments to the rapper and ending production on all collaborations.
“This is expected to have a short term impact of up to 250 million [euros] on the company’s net income in 2022 given the high seasonality of the fourth guarter. Adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.”
Kanye has not yet responded to the news, but will likely be unhappy about this as he had said previously that Adidas couldn’t and wouldn’t drop him.
[social_warfare]