adidas Terminates Partnership With Ye IMMEDIATELY

adidas has terminated their partnership with Ye, the artiste formerly known as Kanye West, IMMEDIATELY – following anti-semitic comments passed by the rapper.

The company released a statement to that effect on Tuesday, October 25th 2022.

“adidas does not tolerate antisemitism and any other sort of hate speech. 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 statement began.

“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.

“This is expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter.”

adidas ye

The statement added: “adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.”

The rapper had claimed that he could make as many anti-Semitic comments as he liked without endangering his partnership with Adidas. On a podcast on October 16, West bragged: “The thing about it being Adidas is like, I can literally say anti-Semitic shit and they cannot drop me.” The podcast episode was later deleted.

Earlier this month, West wore a “White Lives Matter” T-shirt at a fashion show in Paris and has made a number of anti-Semitic comments on TV shows and on social media. 

Source: Nigeriabombshell.com

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