After weeks of Kanye West’s antisemitic media tour, Adidas has finally confirmed that it’s ending its partnership with Ye.
Source: Jonathan Leibson / Getty
For the past several weeks Kanye West has continued to make antisemitic remarks while claiming that he can’t be antisemitic because he is a “jew.” His comments have been so gregarious that his The Shop interview was trashed and his Drink Champs interview earned him a $250M lawsuit from George Floyd’s family.
Following that, his interviews with Chris Cuomo and Piers Morgan saw him double down on his comments and started a trickle effect of brands distancing themselves from him. Balenciaga, JP Morgan Chase, MRC studio, Vogue, and CAA all dropped their relationship with Ye over his comments putting more pressure on Adidas to do the same.
The world is watching, @adidas
— Kat Dennings (@OfficialKat) October 23, 2022
Adidas Ends Partnership With Kanye West, Claims The Split Will Cost $246 Million
Adidas has officially ended its partnership with Kanye West despite it being the second most successful partnership in the history of footwear. The company made the announcement Tuesday with a statement while confirming that it will cost them $246 million according to AP.
“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.”
Since the Kanye termination announcement, Adidas stock is down 5.42%
— Darren Rovell (@darrenrovell) October 25, 2022
In the aftermath of the announcement, Adidas stock fell and it’s continuing to drop. Adidas also revealed the company will stop payments to Ye immediately. The partnership split comes only a month after Adidas made an initial announcement that the partnership was under review.
And there it is. Adidas officially announces it's dropping its partnership with Kanye West.
Two very long weeks later. pic.twitter.com/krZH0kCYfl
— Charlotte Clymer 🏳️⚧️🇺🇦 (@cmclymer) October 25, 2022
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