26 October 2022
Adidas has ended its partnership with the rapper formerly known as Kanye West over his offensive and antisemitic remarks, the latest company to cut ties with Ye and a decision that the German sportwear company said would hit its bottom line.
“Adidas does not tolerate antisemitism and any other sort of hate speech," the company said in a statement Tuesday.
“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.
Adidas said Tuesday that it conducted a “thorough review" and would immediately stop production of its line of Yeezy products and stop payments to Ye and his companies.
The sportswear company said it was expected to take a hit of up to $246 million to its net income this year from the move. The move by Adidas, whose CEO Kasper Rorsted is stepping down next year, comes after Ye was suspended from Twitter and Instagram this month over antisemitic posts that the social networks said violated their policies.
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