Adidas said that it is cutting ties with Kanye West, ending what may have been the most significant corporate fashion partnership of the rapper and designer’s career after he made a series of antisemitic remarks and embraced a slogan associated with white supremacists that earned him widespread condemnation.
Adidas, which began collaborating with Ye nearly a decade ago, after he left Nike, has long weathered public barbs from the rapper. Its partnership with Yeezy, which encompasses sneakers and clothing, is estimated to be worth billions, making it among the largest sources of Ye’s wealth.
For Adidas, working with Ye gave the company a boost of creative cool and credibility that helped attract high-fashion collaborators like Gucci and Balenciaga.
Ending the partnership and the production of Yeezy branded products, as well as stopping all payments to Ye and his companies will “have a short-term negative impact” of up to $250 million” on Adidas’ net income this year, the company said, partially as the Christmas quarter tends to see greater demand usually.
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