Following the footsteps of Balenciaga, sportswear brand Adidas has cut ties with rapper Kanye West on Tuesday over the latter’s antisemitic remarks in a TV show earlier in October. The 45-year-old was also banned from Twitter and Facebook earlier over antisemitic posts that violated the platform’s policies.
His business with JP Morgan Chase which was already on a rough patch, fell through after the rapper’s remark created a huge public outrage. He has also been dropped by the talent agency CAA, and MRC studio, which was producing a documentary on the rapper, announced their decision to shelve the project on Monday.
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Adidas said that the decision was taken after a “thorough review” internally. The severed ties between the two would bean that the German company will stop producing its Yeezy line of products and will stop payments to Ye and his companies. Adidas revealed that they will incur a loss of $246 million in net revenue due to the decision.
Adidas, a global brand headquartered in Germany, was one of the partners for Kanye West’s Yeezy franchise, along with GAP. GAP had already terminated its relationship with the rapper back in September 2022 and Adidas has now done its bit as well.
A 21-time-Grammy winner and billionaire, Kanye West seems to be close to controversies all the time. Earlier, it was reported that the family of George Floyd, the African-American killed by a white policeman named Derek Chauvin sparking nationwide protests, will be suing the rapper for $250 million.
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The decision to file the lawsuit came following West’s remarks in a TV interview that Floyd died from fentanyl consumption and the officer was not responsible for his death.
After the fallout of Adidas and GAP, it is likely that the billionaire rapper will now independently produce his apparel as Yeezy. A confirmation in that regard is still awaited from the rapper.