Adidas has ended its partnership with rapper Ye, formerly known as Kanye West, as a result of his recent antisemitic comments.
“adidas does not tolerate antisemitism and any other sort of hate speech,” the company wrote via a statement released 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.
“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.”
The sportswear company’s decision comes in the wake of growing public pressure for companies and organizations to end associations with Ye following a recent cluster of interviews and statements where he spouted antisemitic comments and conspiracy theories, which appear to have spurred a rise in antisemitic behaviour.
Multiple companies have cut ties with Ye
In addition to Adidas, Ye’s relationships with several other companies have recently ended — including Gap, the Balenciaga fashion house, Vogue, JPMorgan Chase and his talent agency (CAA). A complete documentary about West has also been shelved, according to CTV News.
West was also suspended from the social media platforms Twitter and Instagram over antisemitic posts earlier this month.
Ye is no longer a billionaire
While Adidas points out in its statement that the decision to cut ties with Ye will likely “have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter,” Forbes reports that adidas’ action will also have an immediate financial impact on Ye. Specifically, the outlet says that the move will cost “Ye even more, immediately knocking him out of the billionaire ranks.”
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Beyond business and finances, Ye’s actions have been condemned both by the public and by people who know him personally, including Ye’s ex, Kim Kardashian. As outlined by PEOPLE, Kardashian broke her silence on the topic by posting on social media on Monday.
“Hate speech is never OK or excusable,” Kardashian wrote on Twitter. “I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end.”
Kardashian, who shares four children with Ye, follows the lead of many other public figures and celebrities who have taken to social media to speak out against antisemitism.