By Cynthia Akande
Adidas has cut ties with American rapper Ye, known as Kanye West, saying it does “not tolerate antisemitism and any other sort of hate speech”.
The sportswear giant — who, over the weekend, dropped their latest Yeezy sneaker collaboration — said in a statement on Tuesday that they will no longer work with West, noting that the company “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,” the company said on its website.
Their statement continued, “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.”
Financial analysts speculate Adidas could lose $240 million from the split, NBC News reported.
