The sportswear giant confirmed in a statement released Tuesday morning that it is ending its Yeezy partnership with immediate effect. The move comes after Ye's latest antisemetic tirade and mounting pressure from users and activists.
“Adidas does not tolerate antisemitism and any other sort of hate speech," the statement reads. "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.”
"After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. adidas will stop the adidas Yeezy business with immediate effect."
The company added that this is expected to have a short-term negative impact of up to 250 million euros on its net income for 2022.
Adidas previously announced that on October 6 (shortly after Ye's controversial Paris fashion show which included White Lives Matter shirts) that its partnership with the Yeezy brand was "under review" but was criticized by many for not severing ties immediately following Ye's recent comments on a podcast that led to antisemetic hate speech from white supremacists on a Los Angeles overpass this weekend.
In an October 16 episode of the ‘Drink Champs’ podcast in which he referenced his comments and that resurfaced on social media recently, Ye declared: “I can say anti-Semitic things, and Adidas can't drop me. Now what?”
The company is the latest brand to publicly cut ties with the rapper after he was dropped by talent agency CAA and his lawyer. Balenciaga and Vogue, both of whom have long supported Ye, also distanced themselves in recent days. Instagram and Twitter had already suspended his accounts.
Adidas added that more information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.
Photo via BFA