Adidas Has Terminated Its Contract With Ye

Adidas declared on Tuesday morning that it had immediately ended its contract with Ye and will cease operations for the adidas YEEZY brand with immediate effect, in a press release. The German sportswear giant said they’ve had enough. The brand is formally cutting relations with Ye with immediate effect after a slew inappropriate actions from the rapper and designer.

“Ye’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,” the company said in a press release Tuesday October 25th. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.

The company’s net income for the current fiscal year would drop by as much as €250 million. adidas AG’s stock has dropped from almost €118 to €95 just in the last week. Since the beginning of 2020, The Three Stripes has experienced financial difficulties, which were made worse by its partnership with Kanye West.

Keep notifications on as more info comes in about the situation we will keep you updated.

UPDATE: 10.26.22 adidas has stated they will continue releasing Yeezy models at the beginning of 2023 without YEEZY branding.

• 
  Ye and Adidas Reach New Agreement For Remaining Yeezy StockFebruary 24, 2023
  In October of 2022, Adidas shocked the world as they announced their split with Ye and his Yeezy brand, which ended up in a very public manner. In general, it is fairly clear why Adidas […]
• 
  Ye Gets Married To Yeezy Designer Bianca CensoriJanuary 14, 2023
  Kanye West recently wed Bianca Censori, a Yeezy employee, in a private Beverly Hills ceremony. According to reports, Ye and Censori exchanged wedding rings without submitting a marriage certificate to make their union legally binding. […]
• 
  After Adidas’ Split With Ye, They Are Stuck With $530 Million In InventoryJanuary 13, 2023
  Ye has managed to stay out of the headlines for the last couple of weeks, but he’s back again, well, sort of, as reports have shown after Adidas split with Ye, they have over half […]
• 
  As More Early “Yeezys” Surface on Social, Does Adidas Have What It Takes To Market Them As Their Own?January 13, 2023
  One thing adidas is good at is shooting itself in the foot after relying so heavily on the Yeezy brand, which is the only product line that has been selling out to carry the brand […]
• 
  A Detailed Look: Yeezy 350 V2 Space Ash Due In 2023January 3, 2023
  Once slated for a January release, we have the best look yet at the Yeezy 350 V2 Space Ash. Coming in light grey, this tonal colorway is reminiscent of the 2020 Tail Light release. These […]