Adidas has decided to terminate its business partnership with Kanye effective immediately. The company stated they do not “tolerate anti-Semitism 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” – Adidas Official Statment
The sportswear brand plans to end the production of Yeezy branded products and stop all payments to Ye and his companies. Adidas stands to lose an estimated $246 million in net income from ending its partnership with the Yeezy Brand.
Check out the full press release below.