Adidas ends partnership with Kanye West over antisemitic comments
Social media platforms have blocked Ye over recent posts
Parler CEO George Farmer vows to adhere to same policies after Kanye West acquisition
Parlement Technologies CEO George Farmer discusses Ye West agreeing to acquire social media platform Parler and Elon Musk's Twitter bid on 'Varney & Co.'
Retail giant Adidas said Tuesday that it terminated its partnership with rapper Ye, formerly known as Kanye West, following his recent antisemitic remarks.
"Adidas does not tolerate antisemitism and any other sort of hate speech," the company said in a statement. "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."
Adidas said the decision came after a "thorough review."
The company will end production of Yeezy-branded products and stop all payments to Ye and his companies, effective immediately.
KANYE WEST TO BUY PARLER, VOWS TO MAKE CONSERVATIVE OPINIONS 'UNCANCELABLE'
The move is expected to have a short-term negative impact of up to 250 million euros ($246.6 million) on the company’s net income in 2022, given the high seasonality of the fourth quarter.
In a recent post on Twitter, Ye said he would go "death con 3 on JEWISH PEOPLE."
Kanye West on stage during the 2016 MTV Video Music Awards in New York City Aug. 28, 2016. (Reuters/Lucas Jackson/File Photo / Reuters Photos)
The comment drew a sharp rebuke from the Anti-Defamation League, which called the tweet "deeply troubling, dangerous, and antisemitic, period."
Ye is now locked out of Twitter and Instagram over antisemitic posts that the companies said violated their policies.
Social media users had pressured Adidas to drop the partnership.
KANYE WEST'S EPISODE OF 'THE SHOP' WON'T AIR AFTER RAPPER USED 'MORE HATE SPEECH': PRODUCER
"I can say antisemitic things, and Adidas can’t drop me. Now what? Now what?" Ye is seen asking in the Oct. 16 episode of the "Drink Champs" podcast, which has since been taken down.
Rapper Ye, formerly known as Kanye West, is seen wearing a Balenciaga boxing mouthguard, outside Givenchy, during Paris Fashion Week - Womenswear Spring/Summer 2023 - Day Seven on Oct. 2, 2022, in Paris. (Photo by Edward Berthelot/GC Images / Getty Images)
At the beginning of the month, Adidas said the partnership was "under review" days after Ye wore a "White Lives Matter" shirt at a Paris fashion show and called the Black Lives Matter movement a "scam" on social media.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
A documentary about the artist has been shelved following his comments.
"We cannot support any content that amplifies his platform," MRC studio executives Modi Wiczyk, Asif Satchu and Scott Tenley announced in a Monday memo.
Ye’s talent agency, CAA, has dropped him as well.
CLICK HERE TO READ MORE ON FOX BUSINESS
Balenciaga told WWD last week that it "no longer has any relationship or plans for future projects" related to Ye.
FOX Business' Lawrence Richard and The Associated Press contributed to this report.