Adidas finally bowed to the pressure of groups calling for them to terminate their Yeezy contract with Kanye West, as they officially announced the end of the contract.
Ye has had a successful ride as a designer, as he has amassed up to 2 billion dollars, with Yeezy, being a huge part of it.
But he has seen his net worth gradually droop, as brands keep on ending their partnerships with the rapper.
The German company put its contract with Kanye under review after he dropped some antisemitic comments on Twitter which sparked outrage.
But after many groups and celebrities clamored for the contract termination, Adidas bowed to the pressure and released an official statement.
“Adidas does not tolerate antisemitism and any other sort of hate speech.”
“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.”
“After a thorough review, the company has taken the decision to terminate the partnership with Ye 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.”
Balenciaga also ended their contract with many West some days earlier, stating that they no longer wanted to have anything to do with the rapper.
The German powerhouse was facing immense pressure from the public, advocacy groups, and its own employees to finally cut ties with Ye.
Ye’s talent agency, Creative Artists Agency (CAA), confirmed that it had dropped him as a client on Oct. 24.
