Adidas cuts ties with Kanye West over antisemitic comments

Adidas has ended its partnership with Kanye West after he made numerous antisemitic comments.

“Adidas does not tolerate antisemitism and any other sort of hate speech,” the athletic company said in a statement 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.”

White Lives Matter shirt stunt

Kanye’s Adidas partnership was put “under review” in early October after West, 45, wore a “White Lives Matter” shirt to a fashion show.

“After repeated efforts to privately resolve the situation, we have taken the decision to place the partnership under review,” Adidas shared in a statement at the time. “We will continue to co-manage the current product during this period.”

Kanye responded badly to the contract being put under review saying online “ “F—K ADIDAS I AM ADIDAS ADIDAS RAPED AND STOLE MY DESIGNS.

But the rapper’s tweet that he would go “death con 3” on Jewish people along with weeks of continued antisemitic comments saw West lose several contracts and get banned from Twitter and Instagram.

https://www.instagram.com/p/Cjp1BrEogSz/

Who’s cut ties with West and how much money has he lost?

After weeks of making a string of anti-Semitic and controversial remarks, companies including Adidas, CAA and Balenciaga have cut ties with West.

Key contracts lost:

Adidas announced on Tuesday it was cutting ties with Kanye and his Yeezy company: “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.”
Talent agency CAA dropped Kanye within the last month.
Studio MRC said Monday it would not air a completed documentary about West: “We cannot support any content that amplifies his platform.”
Luxury fashion house Balenciaga cut ties with West saying it “has no longer any relationship nor any plans for future projects related to this artist.”
Forbes reported on Thursday that “West is also no longer with record label Def Jam—a Universal Music Group subsidiary—as he has fulfilled his contract” and “own label, G.O.O.D. Music, is no longer linked to Def Jam”, the New York Times reported Monday.
Bank JPMorgan Chase severed ties with the rapper.
Jeremy Zimmer, CEO and co-founder of talent agency UTA, told staff in a memo on Sunday to “please support the boycott of Kanye West,” and Endeavor talent agency’s CEO Ari Emanuel said companies that make money from West like Spotify and Apple should drop the rapper.
In September GAP ended the Yeezy Gap apparel line deal – after just two years – it was supposed to be a contract lasting 10 years that was supposed to generate $ 1 billion in annual sales.

Adidas and Kanye West – Will he lose his billionaire status?

Adidas has distributed Kanye West’s Yeezy brand since 2013 and is responsible for a large portion of Kanye’s wealth. The company has faced a lot of backlash for staying quiet since West’s string of offensive comments.

The Anti-Defamation League, along with celebrities have put pressure on Adidas to drop West.

The demand for West to be dropped got louder after a small group of anti-Semitic protestors in LA were spotted holding signs that said “Kanye West was right about the Jews.”

West is worth $2 billion, according to Forbes, though he could lose his billionaire status now Adidas has dropped him.