Adidas has officially terminated its partnership with rapper Kanye West following his anti-semitic slurs online.
This is the latest company to drop Kanye, after Gap and Balenciaga cut ties in recent weeks.
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Kanye took to Instagram on October 7 writing, “Ima use you as an example to show the Jewish people that told you to call me that no one can threaten or influence me.”
This was followed by a tweet saying, “I’m a bit sleepy tonight but when I wake up I’m going death con 3 On JEWISH PEOPLE.”
The popular sports brand announced in a statement that they were dropping Kanye over his “harmful” and “dangerous” comments and that his comments “violate the company’s values”.
The statement by Adidas says, “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.”
“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 statement continues.
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Adidas have also added that the change will cost €250 million ($390 million AUD).
“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.”
The comments Kanye posted on Twitter were removed and he was subsequently locked out of his account.
Madame Tussauds has also made a statement about how they don’t support Kanye’s views by removing their wax figure from public view.
The London museum has moved Kanye’s wax figure to an archive room.
“Ye’s figure has been retired from the attraction floor to our archive. Each profile earns their place at Madame Tussauds London and we listen to our guests and the public on who they expect to see at the attraction,” a spokesperson for Madame Tussauds told BBC.
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