adidas terminates its partnership with Kanye West

After the controversy in recent weeks and subsequent pressure that came via social media, adidas has decided to discontinue its partnership with Kanye West. «adidas does not tolerate antisemitism and any other sort of hate speech» the brand said. «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.» In the statement, adidas also confirmed the immediate termination of the partnership, including the production of Yeezy-branded products and any payments to Kanye West and his companies. In addition to emphasizing ownership of all designs and colorways part of the partnership, adidas then budgeted a short-term negative impact of up to 250 million euros on net income. After Gap and Balenciaga, adidas is thus yet another brand to break off relations with West, who after the Paris Yeezy show and some anti-Semitic statements has progressively broken contacts and contracts with numerous business partners.

It was yesterday's news, for example, that the Creative Artists Agency also chose to sever its relationship with West, while MRC Entertainment decided not to distribute the documentary about the artist. Camille Vasquez, famous for being Johnny Depp's lawyer, also chose to sever any professional ties with West after he hired her only a few weeks.