Adidas issued a statement saying, “Adidas does not tolerate antisemitism and any other sort of hate speech”.
Adidas, the latest company to cut ties with Ye, has terminated its relationship with the rapper formerly known as Kanye West due to his hateful and antisemitic remarks. The German sportswear brand claimed that this move would negatively affect its bottom line.
“Adidas does not tolerate antisemitism and any other sort of hate speech,” stated the company on Tuesday. “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.”
Adidas was under pressure to sever connections with Ye after social media users, including celebrities, called for it. At the beginning of the month, it declared that it was reevaluating its lucrative footwear relationship with the rapper.
Adidas announced Tuesday that it had carried out a “thorough investigation” and will immediately halt both the production of its Yeezy product line and payments to Ye and his businesses. The sportswear company predicted that the decision might cost it up to 250 million euros ($246 million) in net profits this year.
Ye was banned from Twitter and Instagram this month for making anti-Semitic tweets that the social media platforms claimed broke their regulations. Adidas, whose CEO Kasper Rorsted is retiring next year, made the decision in response.
The COVID-19 vaccine, among other things, was referred to as the “mark of the beast” by him recently. He also said that choosing to live in slavery was a choice. A “White Lives Matter” T-shirt that he wore to the Paris premiere of his Yeezy line also drew criticism.
The MRC studio stated on Monday that it is suspending a full documentary about the rapper Ye, and Ye’s talent agency, CAA, has dropped him.
Ye and the designer company of Balenciaga parted ways last week, according to Women’s Wear Daily. Despite the fact that the financial separation was already planned before Ye’s anti-Semitic remarks, JPMorganChase and Ye have severed their business partnership.
Ye has just severed his company’s links with Gap and revealed to Bloomberg that he intends to sever ties with his business suppliers. Ye tried to purchase the conservative social network Parler after being banned from Twitter and Facebook.
A banner celebrating Ye’s antisemitic remarks was unfurled by protesters on a Los Angeles overpass on Saturday, drawing condemnation on social media from celebrities and others who stated they support Jews.
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