Sportswear giant Adidas has terminated its partnership with US rapper Kanye West over offensive and antisemitic comments.
The news comes days after West said that the brand could never cut ties with him.
However, the German sportswear retailer said it is ending its partnership with the rapper with immediate effect.
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In a statement, Adidas said it does “not tolerate antisemitism and any other sort of hate speech”.
“Kanye West’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 Kanye West 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.”
As a result of the termination, Adidas expects to take a hit of as much as $246.5 million (£217.87 million) to its net income in the current fiscal year.
