The company will stop the Adidas Yeezy business with immediate effect. Adidas will end production of Yeezy branded products and stop all payments to Ye and his companies, according to a press release. Ye, known by his birth name Kanye West, is an American rapper, singer, songwriter, record producer, and fashion designer.
German sportswear manufacturer Adidas has announced its decision to terminate its partnership with Ye, known by his birth name Kanye West, after the latter’s alleged antisemitic comments. The decision 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 colourways under the partnership.
Fibre2Fashion News Desk (NB)
