Adidas has ended its partnership with the rapper formerly known as Kanye West over his offensive and anti-Semitic remarks.
Key points:
- Adidas said severing the partnership would hit its bottom line but it did not tolerate hate speech
- The company described recent comments from ye as "unacceptable, hateful and dangerous"
- The company faced pressure to cut ties with Ye with celebrities on social media urging action
It's the latest company to cut ties with Ye and a decision that the German sportswear company said would hit its bottom line.
"Adidas does not tolerate antisemitism and any other sort of hate speech," the company said in a statement on 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."
The company faced pressure to cut ties with Ye, who legally changed his name last year, with celebrities and others on social media urging Adidas to act.
It said at the beginning of the month that it was placing its lucrative sneaker deal with the rapper under review.
Adidas said Tuesday that it conducted a "thorough review" and would immediately stop production of its line of Yeezy products and stop payments to Ye and his companies.
The sportswear company said it was expected to take a hit of up to 250 million euros ($390 million) to its net income this year from the move.
The move by Adidas, whose CEO Kasper Rorsted is stepping down next year, comes after Ye was suspended from Twitter and Instagram this month over anti-Semitic posts that the social networks said violated their policies.
He recently suggested slavery was a choice and called the COVID-19 vaccine the "mark of the beast," among other comments.
He also was criticised for wearing a "White Lives Matter" T-shirt to his Yeezy collection show in Paris.
Ye's talent agency CAA has dropped him, and the MRC studio announced Monday that it is shelving a complete documentary about the rapper.
The Balenciaga fashion house cut ties with Ye last week, according to Women's Wear Daily.
JPMorganChase and Ye have ended their business relationship, although the banking break-up was in the works even before Ye's anti-Semitic comments.
In recent weeks, Ye also has ended his company's association with Gap and has told Bloomberg that he plans to cut ties with his corporate suppliers.
After he was suspended from Twitter and Facebook, Ye offered to buy conservative social network Parler.
Demonstrators on a Los Angeles overpass on Saturday unfurled a banner praising Ye's anti-Semitic comments, prompting an outcry on social media from celebrities and others who said they stand with Jewish people.
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After the display, Los Angeles Mayor Eric Garcetti posted to Twitter that his city was one of belonging and not hate.
"We condemn this weekend's anti-Semitic incidents," he said.
"Jewish Angelenos should always feel safe.
"There is no place for discrimination or prejudice in Los Angeles. And we will never back down from the fight to expose and eliminate it."
https://news.google.com/__i/rss/rd/articles/CBMiaWh0dHBzOi8vd3d3LmFiYy5uZXQuYXUvbmV3cy8yMDIyLTEwLTI1L2FkaWRhcy1lbmRzLXBhcnRuZXJzaGlwLXdpdGgteWUtb3Zlci1hbnRpc2VtaXRpYy1yZW1hcmtzLzEwMTU3NzM3MtIBAA?oc=5
2022-10-25 12:58:09Z
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