Yeezy Season Is Over, as adidas End Collaboration With Kanye West
The statement outlines that the brand felt Kanye has violated adidas’ values of ‘diversity and inclusion, mutual respect and fairness.’ adidas also specified that the brand maintains ownership of YEEZY designs, ‘adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership.’
Over the last several weeks, West’s media tirade has made headlines because of anti-semitic remarks and spreading misinformation about the murder of George Floyd. West used platforms like those of mainstream media figure Piers Morgan, as well as the hip-hop podcast, Drink Champs, to make the dangerous remarks throughout the last few weeks.
While on Drink Champs, West claimed, ‘I can say anti-Semitic things, and adidas can’t drop me.’
This resulted in public outcry, asking for adidas to cancel its relationship with West, including a specific petition on Change.org that received over 169,000 signatures at the time of writing this article. In the days following West’s remarks, publishers like ,Vogue distanced from West, while his creative agency and lawyer announced they were dropping him as a client.
While this is only the latest development in an ongoing situation between Kanye West, adidas, and GAP, you can check out our comprehensive report here.
Read adidas’ statement in full below.
‘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 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 colorways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.’