Adidas has ended its partnership with Kanye West after he made anti-Semitic remarks and embraced a white supremacist slogan, earning him widespread condemnation.
After the rapper was suspended from Instagram and Twitter for offensive posts, the German sportswear giant said on Tuesday, October 25, that it “does not tolerate antisemitism.”
Adidas said that Kanye West’s recent comments and actions were “unacceptable, hateful, and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect, and fairness.”
The company said it would take a “short-term” €250 million (£217 million) hit to its earnings this year after deciding to discontinue the brand’s operations immediately.
It intends to halt the production of West’s Yeezy brand products and all payments to the rapper and his companies.
According to Bloomberg, the partnership brought in nearly $1.7 billion in revenue for Adidas in 2020 and was set to expire in 2026.
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Adidas put the deal up for review following West’s contentious Paris show earlier this month, in which models walked the runway wearing “White Lives Matter” t-shirts.
Adidas follows the departures of Balenciaga, Gap, and JPMorgan Chase.
Kanye recently claimed that Adidas could not drop him despite calls for a boycott in response to his comments.
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