Sports brand Adidas takes financial hit as it drops Kanye West

By our News Team | 2022

Adidas, which manufactures and markets West’s Yeezy sportswear brand, has immediately cut all ties over controversial and ‘hateful’ comments.

Global sports brand Adidas has cut its ties with entertainment megastar and billionaire Kanye West over a series of bizarre and controversial actions, most recently comments about Jewish people that have been described by the brand as ‘hateful and dangerous’.

In ending the relationship with immediate effect, Adidas will also take a financial hit estimated to be in the region of US$250-million, as it will lose the profits it makes from manufacturing the high-end Yeezy sneaker and apparel brand in collaboration with West.

Reputation Management

Kanye West with Kim Kardashian in 2019. Photo credit: Cosmopolitan UK via Wikimedia Commons

The rapper and entertainer, who is also known for his relationship with reality TV star Kim Kardashian, has previously remarked that Adidas could not drop him – presumably for financial reasons as his Yeezy brand is highly successful and Adidas has seen its other product lines struggle of late.

Other companies have also terminated relationships

West has already had business relationships terminated by Balenciaga, Gap (both fashion brands) and JPMorgan Chase (a major bank).  His long-time talent agency CAA has also reportedly stopped representing him, while Instagram and Twitter have suspended his accounts.

Recently West tweeted that he was going “death con 3 on Jewish people” and suggested on Instagram that rapper Diddy was controlled by Jewish people. He has also previously made other controversial comments, such as slavery being “a choice”.

In a media statement, Adidas said West’s comments were “unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness”. It added that it would end production of items under West’s Yeezy brand and stop all payments to the entertainer and his companies.

“West had been associated with Nike for years, bringing out the Air Yeezy in 2009, but broke away in 2013, lending his name to Adidas instead. They launched their first Yeezy shoe together in 2015 – a partnership that helped make him a billionaire,” the London-based Guardian newspaper reported.

“The collaboration – which appears to have been removed from Adidas’s website with immediate effect – encompassed sportswear, jackets and trainers. However, it was the Yeezy Boost trainer that drew queues and high price tags for both new and second-hand.”

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    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.