Adidas has cut all business ties with Ye, also known as Kanye West after his antisemitic comments.
The sportswear company released a statement on Tuesday, saying they will no longer work with Ye, noting they do not “tolerate antisemitism and any other sort of hate speech.”
The statement, posted on their website, read:
“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,” the company said.
Adidas added “After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, and production of Yeezy branded products and stop all payments to Ye and his companies. Adidas will stop the adidas Yeezy business with immediate effect.”
NBC financial analysts speculate Adidas could lose $240 million from cutting ties with Yeezy.
This comes after Balenciaga cut ties with Kanye, and others after his antisemitic comments and support for the “White Lives Matter’ movement.
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