News
Adidas Terminates Partnership With Kanye West
In the last few days, companies including Balenciaga, MRC, and talent agency CAA have all terminated their relationship with Kanye West following antisemitic comments. Adding to the list and the biggest one of all is Adidas. In a statement released on Tuesday (Oct. 25), the German-based company will immediately end production of all Yeezy brand-named productions and stop payment to Ye and his companies.
“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.”
This decision will reduce the company’s profit of up to 250 million euros ($246 million). According to Forbes, the termination of Ye’s deal with Adidas now brings his net worth to an estimated $400 million. His partnership with Adidas was valued at $1.5 billion.
