// Adidas cuts ties with rapper Kanye West over offensive comments
// It expects to take a hit of as much as $246.5m to its net income
Adidas has terminated its partnership with Kanye West after offensive and antisemitic comments from the rapper.
The German sportswear retailer said it is cutting ties with West with immediate effect.
Adidas expects to take a hit of as much as $246.5 million to its net income in the current fiscal year.
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“Adidas does not tolerate antisemitism and any other sort of hate speech,” Adidas said.
“Kanye West’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 Kanye West 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.”
Adidas had faced pressure from the public and its own employees to cut ties with West, who said on a podcast on October 16: “I can say anti-Semitic things, and Adidas can’t drop me. Now what?”
West was let go by Balenciaga last week.
Adidas began working with West in 2013, and in 2016 signed a deal to manufacture and distribute items from his Yeezy clothing line through the company.
