After Balenciaga, Vogue now Adidas terminates partnership with Ye (Kanye West)- read report
Ye, a fashion designer and rapper formerly known as Kanye West, has recently estranged at least five groups due to his numerous antisemitic remarks. Adidas had ended its partnership with Ye with “immediate effect.”
FollowYe, formerly known as Kanye West, has recently alienated at least five groups due to his numerous antisemitic remarks. The big picture: According to the Anti-Defamation League's report earlier this year, antisemitic events in the United States have increased and will reach an all-time high in 2021.
Following a string of disrespectful actions by the rapper that turned a once-vibrant sneaker brand into a target for criticism, Adidas AG has decided to stop its collaboration with Ye. The German sports corporation confirmed a report by Bloomberg News by announcing that it is severing relations with Ye, with immediate effect.
In a statement Tuesday, the sportswear maker said it “does not tolerate antisemitism and any other sort of hate speech” and said that his recent comments were ‘unacceptable, hateful and dangerous.” Adidas said they violated the company’s “values of diversity and inclusion, mutual respect and fairness.”
Also Read: Kantara: 45-year-old man in Karnataka died while watching Rishab Shetty’s film-read report
Payments to Ye and his businesses have also ceased, along with sales and manufacture of his Yeezy-branded goods. Adidas estimated its fourth-quarter sales will suffer a €250 million ($246 million) impact.
Adidas partnered with West in 2013, when the company signed its brand away from rival Nike. In 2016, Adidas grew its relationship with the rapper, calling it “the most significant partnership ever created between a non-athlete and an athletic brand.”
An increasing number of companies are distancing themselves from Kanye West. Balenciaga and Vogue openly severed their relations last week. A documentary about West has been shelved, according to production firm MRC.
In Frankfurt, Adidas stock dropped by around 5%. In its next earnings report on November 9, Adidas said it will provide further information regarding the financial ramifications of ending its association with Ye.
Not just that, Ye was no longer a client, Creative Artists Agency (CAA), a significant Hollywood talent and sports agency, revealed to Axios on Monday. The Los Angeles Times was the first to disclose that the agency had severed ties with Ye due to his antisemitic remarks. Page Six was informed by a magazine representative last week that Anna Wintour, the editor of Vogue, had no plans to collaborate with Ye again.
Also Read: SEXY Kylie Jenner's skin SKIMPY pics in a plunging corset will make you sweat!
Kanye West's ex-wife Kim Kardashian, the media mogul said on Twitter on the same, "Hate speech is never OK or excusable. I stand together with the Jewish community and call on the terrible violence and hateful rhetoric towards them to come to an immediate end."
