Adidas, the latest company to cut ties with Ye, has terminated its relationship with the rapper formerly known as Kanye West due to his hateful and anti-Semitic remarks. The German sportswear brand claimed that this move would negatively affect its bottom line.
“Adidas does not accept hate speech of any kind, including anti-Semitism, “declared the business in a statement on Tuesday. The company’s ideals of diversity and inclusion, mutual respect, and fairness have been violated by Ye’s recent words and actions, which are inappropriate, harmful, and filled with hatred.”
Adidas was under pressure to sever connections with Ye after social media users, including celebrities, called for it. At the beginning of the month, it declared that it was reevaluating its lucrative footwear relationship with the rapper.
Adidas announced Tuesday that it had carried out a “thorough investigation” and will immediately halt both the production of its Yeezy product line and payments to Ye and his businesses. The sportswear company predicted that the decision might cost it up to 250 million euros ($246 million) in net profits this year.
Adidas’ action comes after Ye was banned from Twitter and Instagram this month for making anti-Semitic statements that the social media platforms claimed broke their regulations. Ye is the CEO of Adidas, whose CEO Kasper Rorsted will step down next year.
He recently made comments like “the mark of the beast,” “slavery is a choice,” and “the COVID-19 vaccination.” Additionally, he received criticism for showing up to his Yeezy collection exhibition in Paris wearing a “White Lives Matter” T-shirt.
Ye has been dropped by his talent agency CAA, and the MRC studio said on Monday that it is shelving a full documentary about the rapper.
According to Women’s Wear Daily, the designer brand of Balenciaga severed its relationship with Ye last week. Ye and JP Morgan Chase have dissolved their commercial partnership, despite this banking split was always planned before Ye made his anti-Semitic remarks.
Ye has just severed his company’s links with Gap and revealed to Bloomberg that he intends to sever ties with his business suppliers.
Ye tried to purchase the conservative social network Parler after being banned from Twitter and Facebook.
Ye’s anti-Semitic remarks were praised by demonstrators on a Los Angeles bridge on Saturday, which sparked outrage on social media from celebrities and others who claimed to support Jews.