The sportswear giant ended its Yeezy deal, which was the biggest portion of Ye’s net worth.
The consequences of repeated, brazen antisemitic attacks over the past few weeks have unraveled the empire of Ye, the musician and fashion designer better known as Kanye West, and tarnished his goodwill with financial institutions and celebrity footholds.
Ye saw his sprawling multibillion-dollar business cleaved Tuesday from its largest backer, sportswear giant Adidas. After weeks of silence and mounting public pressure, the German company — the last major holdout among Ye’s business partners — announced it would immediately “end production of Yeezy branded products and stop all payments to Ye and his companies.”
Adidas “does not tolerate antisemitism and any other sort of hate speech,” the company said in a statement. “Ye’s recent comments and actions have been unacceptable, hateful and dangerous.” In recent weeks, several companies — including French fashion house Balenciaga, JPMorgan Chase, talent agency CAA, and Hollywood financier and producer MRC — have ended relationships with the performer. On Monday, Gap, which ended its partnership with Ye last month, announced it was pulling all Yeezy Gap inventory from stores and shutting down the line’s website.
Source - database | Page ID - 3023