adidas has had enough of Kanye West (Ye), with the German sportswear giant officially terminating its contract with the eccentric artist, and will stop the adidas YEEZY business with immediate effect.
Following a spiraling run of offensive behavior from the rapper and designer, the company is officially cutting ties with Ye with immediate effect.
The company will take a hit of as much as €250 million ($246.5 million) to the net income in the current fiscal year.
“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,” the company said in a statement.
adidas joins Gap and Balenciaga fashion label in severing links with Ye. The rapper has made controversial statements, including antisemitic social media posts in recent weeks, and has moved to cut ties with his corporate partners.
adidas will terminate the partnership with Ye, end production of Yeezy branded products, and stop all payments to Ye and his companies, it said, despite being one of the brand’s most successful partnerships in its storied history.