Kanye West: Adidas ends partnership with Ye

new York
CNN Business
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Adidas has ended its partnership with Ye, also known as Kanye West, with “instant impact”.

The sportswear manufacturer said on Tuesday it “does not tolerate antisemitism and any other form of hate speech” and that its latest comments are “unacceptable, hateful and dangerous”. Adidas said they violated the company’s “values ​​of diversity and inclusion, mutual respect and fairness.”

The sale and production of Yeezy-branded products and payments to Ye and its companies have been halted. Adidas said it will receive €250 million ($246 million) in fourth-quarter sales.

Adidas has partnered with West since 2013, when the company distanced its brand from rival Nike. In 2016, Adidas expanded its relationship with the rapper, describing it as “the most important partnership ever created between a non-athletic and athletic brand”.

However, Adidas “reviewed the partnership” in early October after wearing a “White Lives Matter” T-shirt in a public place. The Anti-Defamation League classifies the phrase as a “hate slogan” used by White supremacist groups, including the Ku Klux Klan.

“I can call it anti-Semitic scumbag and Adidas can’t let me go,” Ye said recently during a speech to Jews on the Drink Champs Podcast. He also threatened to “make the Jewish People death scam 3” on Twitter.

Anti-Defamation League CEO Jonathan Greenblatt said Adidas’ decision was a “very positive outcome”.

“It shows that anti-Semitism is unacceptable and has consequences. “No doubt Adidas did the right thing by cutting ties with Ye after his violent antisemitic speeches.” “Ultimately, Adidas’ action sends a strong message that anti-Semitism and bigotry have no place in society.”

Earlier on Tuesday, he added to CNN that he wished this would happen sooner, but Adidas made a “very strong statement about putting people above profits”.

Shares of Adidas (ADDDF) fell as much as 5% in Frankfurt. Adidas (ADDDF) said it will release additional information on the financial implications of ending its partnership with Ye in its earnings report to be released Nov.

The list of brands that distance themselves from the West is growing. Balenciaga and Vogue publicly broke off ties last week, and talent agency CAA on Monday left West as a client. Production company MRC said it shelved a documentary about the West.

Also Tuesday, Gap announced that it was removing Yeezy Gap products from its stores and closing YeezyGap.com.

“Our former partner’s recent statements and actions further highlight why. We are taking immediate steps to remove the Yeezy Gap product,” the retailer said in a statement.

Last month, the rapper said he was ending his rocky two-year relationship with Gap, citing “significant incompatibility”. His lawyer said in a statement that he “had no choice but to end their collaboration”, claiming that the company had not opened its branded Yeezy stores and was not distributing its merchandise as planned.

The Ye saga, which is not just with Adidas but also with brands like Gap and Balenciaga, “underlines the importance of delving into the celebrities and avoiding the overly controversial or unstable,” Neil Saunders, managing director of GlobalData, wrote in a note Tuesday.

“While there is room for some tension in fashion, it should never cross the line of respect for humanity and courtesy. Companies or brands that don’t take this into account will get frustrated, especially if they become overly dependent on a difficult personality to run their business,” he added.

– Parija Kavilanz and Jon Sarlin of CNN Business contributed to this report.

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