adidas terminates partnership with Kanye West


October 26, 2022 | By RetailME Bureau

adidas terminates partnership with Kanya West

Global sportwear retailer adidas has terminated its partnership with Ye (Kanye West) over antisemitic comments, as per a press release issued on its website. adidas does not tolerate antisemitism and any other sort of hate speech, the press release stated.

According to adidas 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. 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.

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Sunil Kumar and Debashish Mukherjee at MRF 2024

What does it take to sustain profitable growth in the post-IPO phase? 

Continue Reading

October 23, 2024 | By Anurima Das

Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in 

Continue Reading

October 7, 2024 | By Anurima Das
Naresh Kumar Bhawnani, Founder & Chairman, West Zone Group

“Retail is a people’s business. When building a retail brand or the 

Continue Reading

October 3, 2024 | By RetailME Bureau
Sunil Kumar, CEO, Spinneys

From being one of the first retailers in Dubai to ban single-use 

Continue Reading

October 1, 2024 | By RetailME Bureau
Walid Shabana, Co-founder & CTO, Rabbit

For starters, Rabbit is a growing e-commerce grocery platform in Egypt always 

Continue Reading

September 30, 2024 | By RetailME Bureau
Arunachalam Palaniappan, CTO, Choithrams

In 2024 grocery retail major Choithrams has achieved several milestones underscoring its 

Continue Reading

September 12, 2024 | By RetailME Bureau
#Topshelftalks session at Food Business Forum 2024

Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital 

Continue Reading

July 3, 2024 | By Anurima Das
#EdgeOfTomorrow session at Food Business Forum 2024

The regional grocery retail market is evolving fast keeping pace with constantly 

Continue Reading

July 3, 2024 | By Rupkatha B
#CartToCouch session at Food Business Forum 2024

If anything, the Middle East market is excited about quick commerce – 

Continue Reading

July 2, 2024 | By Rupkatha B
#EcoEchoes session at Food Business Forum 2024

From ethical and local sourcing to adopting cutting-edge technologies to curb food 

Continue Reading

July 2, 2024 | By Rupkatha B
#ByteSizedBreakthroughs session at Food Business Forum 2024

The regional grocery retail market is becoming more and more diverse, offering 

Continue Reading

July 2, 2024 | By Rupkatha B

Spinneys, the leading premium fresh food retailer, has announced the opening of 

Continue Reading

June 24, 2024 | By RetailME Bureau




Download Images RetailME Magazine