Interviews
News Flash
Germany's Adidas stops Adidas Yeezy business
25 Oct '22
1 min read
Ye, also known as Kanye West. Pic: Shutterstock/ Tinseltown
German sportswear manufacturer Adidas has announced its decision to terminate its partnership with Ye after the latter’s alleged antisemitic comments and hate speech. The decision is expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter.
The company will stop the Adidas Yeezy business with immediate effect. Adidas will end production of Yeezy branded products and stop all payments to Ye and his companies, according to a press release. Ye, known by his birth name Kanye West, is an American rapper, singer, songwriter, record producer, and fashion designer.
Adidas is the sole owner of all design rights to existing products as well as previous and new colourways under the partnership.
Fibre2Fashion News Desk (NB)
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
