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Adidas has ended its working partnership with rapper Kanye West, saying it “does not tolerate antisemitism”, after West published offensive posts on his Instagram and Twitter accounts.
The German footwear brand will end production of items under West’s Yeezy brand, as well as stop all payments to the musician and his companies.
In a statement, Adidas said: “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.”
Following the brand’s choice to distance itself from West, the company reported that it would take a “short-term” hit of €250m (£217m) to its income for FY22 after stopping the brand’s business with immediate effect.
According to Bloomberg, the partnership brought the brand almost $1.7bn (£1.47bn) in revenue during 2020 and was not meant to expire until 2026.
The loss of revenue is said to be a blow to the brand, which recently warned that its profit margins and sales are taking a hit due to slowing consumer demand.
The news of Adidas’s recent move comes after Gap also cut ties with West last month, severing its Yeezy Gap partnership.
In a statement, Gap said: “In September, Gap announced ending its Yeezy Gap partnership. Our former partner’s recent remarks and behaviour further underscore why. We are taking immediate steps to remove Yeezy Gap products from our stores and we have shut down YeezyGap.com.
“Antisemitism, racism and hate in any form are inexcusable and not tolerated in accordance with our values. On behalf of our customers, employees and shareholders, we are partnering with organizations that combat hate and discrimination.”
