Adidas Officially Cut Ties With Ye After Kanye West Antisemitic Remarks
Kanye West antisemitic comments made Adidas cut ties with Ye. The rapper has been getting more and more backlash, which has caused him to lose more business deals.
A few days later, the rapper wrote some hateful things about Jews on his Twitter account. Adidas said that its products will be taken off the market right away. The sportswear company has said before that the collaboration between the Yeezy brand and Ye was one of the most successful in its history.
By ending the partnership, Adidas will lose a total of £217 million in 2022, the company said. Ye had said that Adidas stole his designs in an Instagram post that has since been deleted.
Adidas Cuts Ties With Kanye West Over Antisemitic Remarks
COPYRIGHT_WI: Published on https://washingtonindependent.com/ebv/kanye-west-antisemitic/ by Tyrese Griffin on 2022-10-26T07:58:00.999Z
Adidas has cut ties with Ye, formerly known as Kanye West, because of his anti-Semitic comments. The rapper has been getting more and more backlash, which has caused him to lose more business deals.
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.
There was a lot of pressure on the company to cut ties with Ye. Celebrities and other people on social media told Adidas to do something. At the start of the month, it said that it was rethinking its lucrative deal with the rapper to make sneakers.
Adidas said on Tuesday that it had done a "thorough review" and that it would stop making Yeezy products right away and stop paying Ye and his businesses. The sportswear company said that the decision could cost it as much as 250 million euros ($246 million) in net income this year.
Adidas's CEO Kasper Rorsted is leaving the company next year, so the move comes after Ye was banned from Twitter and Instagram this month for making anti-Semitic posts that broke their rules.
Forbes said that Ye's part of the Adidas deal was worth $1.5 billion. It said that when that partnership deal ended, his net worth dropped to $400 million.
Forbes says that Ye's other sources of wealth are real estate, cash, his music catalog, and a 5 percent stake in Kim Kardashian's shapewear company, Skims.
Balenciaga is one of the most well-known brands that has cut ties with Ye. The clothing brand, which is led by creative director Demna, slowly started taking Ye and their collaboration, the Yeezy Gap Engineered by Balenciaga line, off of their site. In a statement to Women's Wear Daily, they said,
Balenciaga has no longer any relationship nor any plans for future projects related to this artist.
Vogue also said it wouldn't work with the rapper because Ye insulted editor Gabriella Karefa-Johnson online after she criticized his controversial Paris fashion show, Yeezy. Page Six said that a magazine representative said that editor-in-chief Anna Wintour will never work with him again.
The New York Times says that after West's recent comments, his G.O.O.D. The music label is no longer part of the Def Jam music group, and his music is being streamed much less.
Gap is another brand that no longer works with West. However, West's lawyer was the one who ended their deal, not West himself. West criticized Gap on social media, saying that the company stole his designs without giving him credit and left him out of the design process.
The Wall Street Journal said in September that Gap “left [Ye] no choice but to terminate their agreement,” which was written in a letter from his lawyers to the clothing company.
Adidas is the latest company to cut ties with the rapper formerly known as Kanye West because of his offensive and antisemitic comments. The German sportswear company said that the decision would hurt its bottom line.
In response to the singer's controversies, other people in the fashion and entertainment industries, like luxury fashion house Balenciaga and talent agency CAA, have also cut ties with her.