Adidas Ends Partnership With Kanye West Over Anti-Semitic Remarks
After years of controversial statements and behavior, Kanye West is finally losing brand deals as a result.
The 45-year-old’s latest debacle surrounding anti-semitic comments has cost him business collaborations, most recently his long-term partnership with Adidas.
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Despite the acclaimed producer’s rant on his now infamous Drink Champs appearance where he boasted “I can say anti-semitic things and adidas can’t drop me. Now what?” the exact thing has happened.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” stated the brand in a press release issued on Tuesday (Oct. 25). “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 continued to explain, “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.”
According to the Washington Post, the athleisure company began to contemplate its relationship with the “Jesus Walks” rapper earlier this month after West decided to wear a “white lives matter” t-shirt. The outlet reported the Yeezy brand is responsible for an estimated $2 billion a year, nearly 10 percent of the company’s annual revenue.
“The adidas Yeezy partnership is one of the most successful collaborations in our industry’s history,” Adidas said at the time. “We also recognize that all successful partnerships are rooted in mutual respect and shared values.”
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This monetary loss was also mentioned in Adidas’ statement regarding the termination of the partnership.
“This is expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter,” the brand explained.
“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.”
During a public rant against Adidas and its CEO Kasper Rorste in September, West revealed screenshots of his contract, highlighting his deal with the company was set to expire in 2026. The Chicago native first joined Adidas in 2013.
In addition to Adidas, Ye has been dropped by his talent agency, Creative Arts Agency (CAA), and J.P. Morgan Chase, distanced from Balenciaga and Vogue, had a completed documentary shelved, and more. West’s popular partnership with GAP was mutually ended before the recent fallout.
West has also been restricted from using Instagram and Twitter.
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