West had boasted that the German company could not cut relations despite his ability to make antisemitic remarks. That doesn’t seem to be the situation now.
Adidas, a German sportswear company, has announced the termination of its extremely lucrative agreement with rapper Kanye West as a result of rising public pressure to do so due to the musician’s harsh remarks and antisemitic remarks.
Adidas said in a statement that the agreement had ended that it did not accept antisemitism or hate speech.
According to the business, Ye’s recent remarks and actions are unacceptable, harmful, and go against the company’s principles of inclusiveness, diversity, and fairness.
Adidas has decided to discontinue its relationship with the rapper and designer, now going by the moniker Ye, and has stated that it will stop making Yeezy-branded products and ceasing all payments to Ye and his businesses. This is anticipated to result in a $246 million shortfall in the company’s annual revenue.
“Antisemitism, racism and hate in any form are inexcusable and not tolerated in accordance with our values. On behalf of our customers, employees and shareholders, we are partnering with organizations that combat hate and discrimination.”