Since tweeting violently anti-Semitic remarks and attempting to rally his followers with hate speech statements, celebrities, brands and the entire media have pushed back on Kanye to take a stand against his cruel and harmful ways.
“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 German corporation continued. “This is expected to 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.”
“Adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership,” the largest European sportswear manufacturer concluded. “More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.”
