German Sportswear company, adidas – has released a press statement officially announcing the termination of its partnership with Ye.
The statement, released on the adidas website, reads:
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. adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership.”Adidas
More information on the termination will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.