Following a string of anti-Semitic comments posted on his Twitter account, Adidas has terminated its partnership with Kanye West. The rapper’s partnership with the brand was under review following an incident where he showed a ‘White Lives Matter’ T-shirt at Paris Fashion Week, but has now been terminated “with immediate effect,” the brand reveals.
A statement released by Adidas read:
The brand went on to say that following their review, they have elected to immediately “end production of Yeezy branded products and stop all payments to Ye and his companies.”
This is expected to have a short term negative impact of €250m ($390m AUD) on the brand. Further information will be revealed in their upcoming Q3 earnings announcement.
Following his anti-Semitic remarks and other recent controvieries, Kanye West has had his social media accounts suspended by Instagram and Twitter. A variety of his business partnerships have also been terminated, including his collaboration with Gap. Though the rapper cut ties with the brand in September, merchandise was still available for purchase.
In a statement released yesterday, Gap Inc revealed:
Earlier in October, high-end fashion brand Balenciaga announced they cut ties with the rapper. Ye was also reportedly dropped by longtime record label Def Jam, and will no longer be represented by Creative Artists Agency.
Television production company MRC Entertainment announced earlier this week its documentary on the rapper will not be aired. Their statement read:
Ye and his representatives are yet to comment.
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