Adidas Cuts Ties With Kayne West

Adidas has cancelled its partnership with Kayne West, now known as Ye.

The German sportswear manufacturer has stopped making Yeezy products and sending payments to the rapper.

Kayne West recently claimed Adidas could not drop him, despite his comments fuelling calls for a boycott.

The hateful remarks prompted the Anti-Defamation League to call on Adidas to end its business with West.

Adidas has cut ties with Kayne West due to ‘hateful and dangerous’ comments.

Shares in Adidas fell 8% following the announcement but have since pared their losses.

Adidas said that it was the sole owner of all design rights to existing products as well as previous and new colour variations under the Yeezy partnership.

The partnership with Kayne West was one of the most successful in the company's recent history.

Instagram and Twitter recently suspended the rapper's account in the days following his antisemitic remarks.

JP Morgan and clothing retailer Gap have also ended their business relationship with Ye.

Cutting the partnership means Adidas will lead to a net loss of £217m by the end of 2022. 

Kayne West has also lost his position in Forbes magazine's list of billionaires.

The sportswear brand will likely relaunch the popular Yeezy products under a different brand name.