Retail sports company Adidas has ended its partnership with Kanye West, after a slew of antisemitic comments were made by the billionaire rap artist.
The German-based company said that it has severed all ties with Ye. Adidas said it estimates losing $246.5 million this year alone for discontinuing their business relationship with the artist.
“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.
Adidas will end the partnership, all production of Yeezy branded products, and even stop payment to all of his companies immediately.
Adidas shares had slumped almost 5%, a low since 2016.
The partnership between the sports merchandise company and the artist was already strained, prior to the antisemitic comments. However, public scrutiny and criticism took its toll.
