Sportswear brand Adidas, in a statement today, has announced an immediate end to its partnership with rapper and designer Kanye West.
This announcement comes after a series of antisemitic comments made by Kanye. In their statement, the sportswear brand condemned Ye’s comments as “unacceptable, hateful, and dangerous” and was a violation of the company’s “values of diversity and inclusion, mutual respect and fairness”.
The brand also said it “does not tolerate antisemitism and any sort of hate speech”.
In light of this development, the sales and production of Ye’s Yeezy branded products have come to a stop. Payments to Ye and his companies have also stopped.
This move will result in Adidas taking a hit of €250 million ($246 million) in its profit this year the company revealed.
Balenciaga also cut ties with Kanye just last week.