Adidas has officially ended its partnership with Yeezy and Ye, formerly known as Kanye West, after the musician made a series of offensive and antisemitic comments. Just a few hours later, Gap (YeezyGap.com) and sneaker retailer Foot Locker revealed that they too would immediately remove Yeezy products from stores.
“After a thorough review, the company has taken the decision to terminate the partnership with Ye 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,” adidas wrote in a statement ending their deal, which would cost Ye his billionaire status.
According to Forbes, Kanye West‘s net worth has dropped to $400 million.
Adidas has confirmed that ending the Yeezy brand would have a short-term negative impact of up to 250 million dollars.