Kanye West’s Anti-Semitic Remarks Cause Adidas to cut ties
Adidas severed its relationship with Kanye West Tuesday, facing growing pressure to do so following the rapper’s bizarre anti-Semitic rants and public meltdown. After weeks in which Kanye West made anti-Semitic, controversial statements, companies including Adidas, CAA, and Balenciaga severed their relationships with the rapper.
Adidas said Tuesday that it had conducted a comprehensive review, would immediately cease producing its line of Yeezy products, and stop paying Ye and the Ye companies.
Adidas has severed its relationship with Ye, marking an end to a partnership that made the company billions of dollars but was soured over repeated blatantly anti-Semitic and insulting remarks from the entertainer.
What has Adidas has to say about this?
Well, recently on October 25, Adidas officially launched the statement of cutting ties with Ye immediately.
Adidas gets hyped up and takes severe action by indicating and making clear by their latest Press Release saying they never support antisemitism or any other hate speech. Whereas, Ye’s recent activities have been definitely wrong and unacceptable in that it goes against violating the values of the said company.
The brand is expected to have a loss of around €250 million in 2022 alone given it ending in the area of the righteous season.
Therefore, Adidas added by stating that “More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.”
While West’s business going down in equal to its former merger, Adidas, the brand has still got a lot to earn with its amazing quality and reputation name in its business game. Meanwhile, Yeezy’s being closed, it is still yet to see how the fans of the merged products would react.
Here’s the Officially Note released by Adidas for more information and confirmation of proof.
Also read: KANYE WEST IS FACING CONSEQUENCES; POPULAR BRANDS SHUNNING HIM AFTER SEVERAL CONTROVERSIES