Adidas has terminated its Yeezy collaboration with Kanye West, just days after he debuted a “White Lives Matter” T-shirt design at Paris Fashion Week.
Adidas had previously stated that it would review the Yeezy collaboration with Kanye West due to his anti-Semitic comments
According to TheGuardian, the German sports brand stated that West’s recent comments and actions were “unacceptable, hateful, and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect, and fairness.”
The company said it would take a “short-term” €250 million (£217 million) hit to its earnings this year after deciding to discontinue the brand’s operations immediately. It intends to halt production of items bearing West’s Yeezy brand as well as all payments to the musician and his companies.
According to Bloomberg, the partnership brought in nearly $1.7 billion in revenue for Adidas in 2020 and was set to expire in 2026.
Adidas will suffer a revenue loss as a result of the revenue loss, as the company recently warned that profit margins and sales were suffering as stock piled up in warehouses due to sluggish customer demand.
West had previously worked with Nike, releasing the Air Yeezy in 2009, but he left the company in 2013, dedicating his name to Adidas instead. In 2015, they worked together on the first Yeezy shoe, which helped him become a billionaire.
The collaboration included sportswear, coats, and shoes, and it appears to have been removed from Adidas’ website immediately. The Yeezy Boost trainer, on the other hand, drew long lines and high prices, both new and used.
West was also chastised after showing a collection of T-shirts with the slogan “White Lives Matter” at Paris Fashion Week.
The phrase “Black Lives Matter,” which stands in opposition to racism and police brutality, became popular after an unarmed black man, George Floyd, was killed by a police officer in Minneapolis in the summer of 2020.
Gabriella Karefa-Johnson, global fashion editor-at-large at Vogue, was among those who chastised West over the T-shirts, calling the move “hugely irresponsible.”
In response, West lashed out at Ms Karefa-Johnson and mocked her appearance to his 17.9 million followers by posting photographs of her.
Vogue issued a statement saying it “supports Gabriella Karefa-Johnson.”
“She had been singled out and bullied. It’s not acceptable. Voices like hers are needed now more than ever, and in a private meeting with Ye today, she once again spoke her truth in the way she felt best, on her terms.”
Adidas and West’s nearly decade-long partnership has been strained for some time.
At the heart of their collaboration is a hugely popular line of sneakers known as Yeezy, which sell for hundreds of dollars and often sell out in minutes.
In June, he accused Adidas of producing a shoe that resembled the iconic Yeezy design but was not part of their agreement.
While the review is ongoing, Adidas has stated that it will continue to co-manage the partnership.
Adidas’ announcement comes less than a month after West’s lawyers informed fashion retailer Gap that he would no longer work with the company.
He accused Gap of breaching the contract’s terms, including failing to open standalone stores for his Yeezy fashion label.