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.
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