Adidas cuts ties with Ye over antisemitic remarks

HERZOGENAURACH – Adidas has ended its partnership with the rapper formerly known as Kanye West over his recent offensive and antisemitic remarks. Ye has made headlines in recent weeks for controversial antisemitic statements in, including wanting to go “death con 3” on Jewish people. The comments got him banned from Instagram and Twitter, while several corporate partners have moved to cut ties with Ye.

Ye also turned up to Paris Fashion Week in a T-Shirt with the slogan ‘White Lives Matter’ on the front.

In 2016, when the deal with Ye was first announced, Adidas called it “the most significant partnership ever created between an athletic brand and a non-athlete.” 

However, the relationship has soured in recent weeks and Adidas has come under huge pressure to cut ties with the rapper. The risk of serious reputational damage will have been playing on the minds of executives at the company.

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.

“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 €250m on the company’s net income in 2022 given the high seasonality of the fourth quarter.

“Adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.”