Adidas Finally Ends Partnership With Kanye West

October 25, 2022 Business, Pop Music

Bloomberg News reports:

Adidas AG is ending its partnership with Ye following a rash of offensive behavior from the rapper and designer that turned a once-thriving shoe brand into a lightning rod for criticism.

The German sports company said it is cutting ties with Ye, formerly Kanye West, with immediate effect and will take a €250 million ($246.5 million) hit to net income in the current fiscal year, confirming an earlier story by Bloomberg News.

“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.

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BREAKING: Adidas is officially ending its partnership with Kanye West following a rash of offensive behavior from the rapper https://t.co/s9ST2lMc08

— Bloomberg UK (@BloombergUK) October 25, 2022