Adidas has ended its partnership with Kanye West over his offensive and antisemitic remarks, the latest company to cut ties with Ye and a decision that the German sportwear company said would hit its bottom line.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” the company said in a statement 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.”
The company faced pressure to cut ties with Ye, with celebrities and others on social media urging Adidas to act. It said at the beginning of the month that it was placing its lucrative sneaker deal with the rapper under review.
Adidas said Tuesday that it conducted a “thorough review” and would immediately stop production of its line of Yeezy products and stop payments to Ye and his companies. The sportswear company said it was expected to take a hit of up to 250 million euros ($246 million) to its net income this year from the move.
The move by Adidas, whose CEO Kasper Rorsted is stepping down next year, comes after Ye was suspended from Twitter and Instagram this month over antisemitic posts that the social networks said violated their