Kanye West's working relationship with Adidas has come to an end.
The German sports company have branded the rapper's recent comments and actions as 'unacceptable, hateful and dangerous', amid the growing pressure on the retailer to cut ties with the artist legally known as Ye following his anti-Semitic remarks.
In a statement addressing Kanye's recent statements and behaviour, Adidas confirmed they have terminated their working relationship with the dad-of-four with immediate effect and will take a €250 million ($246.5 million) hit to net income in the current fiscal year.
Adidas joins Gap Inc. and Kering SA’s Balenciaga fashion label in cutting ties with Kanye following his repeated anti-Semitic statements, with the rapper's estranged wife Kim Kardashian also recently taking to social media to condemn her ex for engaging in 'Jewish hate speech'.
Earlier this month, Kanye seemingly taunted Adidas during an appearance on the podcast Drink Champs, in which the star said: "I can say anti-Semitic things, and Adidas can’t drop me. Now what? Now what?"
In a recently-issued statement, the German sportswear company said: "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.
"This is expected to have a short-term negative impact of up to 250 million euro on the company’s net income in 2022 given the high seasonality of the fourth quarter.
"Adidas is the sole owner of all design rights to existing products as well as previous and new colourways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9 2022."
Kanye West was recently locked out of both his Instagram and Twitter accounts, after saying he would go "Death Con 3 on JEWISH PEOPLE," and he has since continued an anti-Semitic attack on the "Jewish media" and made disturbing claims about the death of George Floyd.
Before Adidas confirmed they will no longer be working with Kanye in the future, Friends actor David Schwimmer led the calls for the retailer to drop the controversial star.
"Whether or not Kanye West is mentally ill, there's no question he is a bigot," the Ross Gellar actor wrote on his Instagram account, referencing the rapper's ongoing struggles with mental health issues.
He continued: "His hate speech calls for violence against Jews. If you interpret his words any other way and defend him, guess what? You are racist.
"If we don’t call someone as influential as Kanye out for his divisive, ignorant and antisemitic words then we are complicit."
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