“Adidas does not tolerate anti-Semitism and any other type of hate speech,” the company said in a statement. statement Tuesday. “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 German sports brand said the decision to “immediately” end its partnership with Ye came after a “thorough review”.
Adidas, which began its partnership with Ye in 2013, said it would end production of Yeezy-branded products and stop all payments to Ye and his companies.
“Adidas will discontinue the Adidas Yeezy business with immediate effect,” the statement read.
The move is expected to have a “negative short-term impact of up to €250 million,” or approximately $246 million, on the company’s net income in 2022, the company said.
The decision comes amid growing pressure from internet users demanding that the company end its relationship with the artist after an anti-Semitic hate group was accused of hang a banner on a Los Angeles freeway on Saturday that read “Kanye is right about the Jews.”
The banner has been condemned by a large number of local politicians, social media users and celebrities.
Kim Kardashian, Ye’s ex-wife, tweeted Monday that she pledged to “stand with the Jewish community and call for an immediate end to the terrible violence and hateful rhetoric directed against it.” She didn’t mention Ye or Adidas in the tweet.
Adidas also said earlier this month that it was reassessing its partnership with Ye after donned a “White Lives Matter” shirt during Paris Fashion Week.
Cutting Ties follows steps taken by others in the fashion and entertainment industries – including luxury fashion house Balenciaga and talent agency CAA – in response to the singer’s controversies. NBC News reached out to a publicist for Ye for comment.
Gap, which announced in September that it was ending its partnership with Yeezy Gap, said in a statement Tuesday, “We are taking immediate action to remove Yeezy Gap product from our stores and are shutting down YeezyGap.com.”
“Anti-Semitism, racism and hatred in any form are inexcusable and will not be tolerated consistent with our values,” the company said. “On behalf of our customers, employees and shareholders, we partner with organizations that fight hate and discrimination.”
Ye was also interrupted online by being locked out of his Twitter account and restricted on Instagram earlier this month amid backlash for anti-Semitic posts.
The Anti-Defamation League welcomed the announcement, with CEO Jonathan Greenblatt saying, “This is a very positive result. This shows that anti-Semitism is unacceptable and has consequences.
“Without a doubt, Adidas did the right thing by cutting ties with Ye after his vicious anti-Semitic rants,” he said, noting that thousands emailed, celebrities took speech and leading brands have severed ties with the artist as part of the campaign decrying Your Feedback.
“Adidas’ action sends a powerful message that anti-Semitism and bigotry have no place in society,” Greenblatt said.
Morgan Sung contributed.