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Kanye West makes fun of adidas

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Kanye West makes fun of adidas




"I can say anti-Semitic things and Adidas won't let me go. Now what?" As Kanye West mocks Adidas, calls are mounting for the German sportswear giant to cut ties.


While Balenciaga and JPMorgan Chase cut ties with Kanye West after repeated anti-Semitic statements, West's largest shareholder, Adidas, is remarkably silent.


But the German sportswear giant may no longer be able to ignore the controversy after Kanye West mocked the company by saying it could be as anti-Semitic as it wanted and would always support retailers.


"I can say anti-Semitic things and Adidas won't let me. Now what? Now what?" Kanye is seen asking in a short music video on the October 16 episode of Drink Champs, a hip-hop community podcast hosted by N.O.R.E. and DJ EFN, who has since been fired.


The video sparked fresh calls for the German sportswear giant to ditch Kanye West, and the hashtag BoycottAdidas has been trending on Twitter since the video was posted on October 21.



Kanye West was recently banned from Instagram and Twitter, after saying he was going to "Death Con 3 on JEWISH PEOPLE", and has since continued his anti-Semitic attack on "Jewish media" and "Jewish Zionists", allegedly to exploit black people. in the music industry.


Adidas already teased the Yeezy deal after West's controversial October 3 show at Paris Fashion Week, where models walked in T-shirts emblazoned with "White Lives Matter." Adidas said on October 7 that it would review its problematic partnership, noting that "we will continue to support the existing product during this time," adidas said in a statement.



But with Adidas planning to ditch Kanye West and the highly profitable Yeezy brand from its product offerings, the company on Sunday launched the Adidas Yeezy Boost 350 v2 in an all-new color, Salt, which was already bought and resold for $0.899. Sunday times. . . Online trader market StockX.


The turbulent future of adidas


The growing ad crisis comes at a bad time for Adidas.

In its latest third-quarter earnings report, released last Thursday, Adidas cut its operating margin forecast for this year to 4% from 7% due to excess inventory it will have to sell at a discount. Adidas has warned of a backlog of unsold merchandise in warehouses due to deteriorating store traffic trends in Greater China and slowing demand in Western markets since September.


The news sent Adidas shares down 9.1%, reversing all the gains made during CEO Kasper Rørsted's six-year tenure, and leaving it with a market value roughly one-sixth of that of American rival Nike. In the face of declining profits, Adidas may be tempted to keep Kanye West on the payroll, with the Yeezy line accounting for a large percentage of Adidas sales.


Although Adidas does not release sales figures for the Yeezy ranking, which began in 2013 and ended in 2026, Morningstar analyst David Swartz estimates that Yeezy sales for Adidas are about $2 billion annually, which is 10% of total sales.


"Ten years ago, Adidas was struggling in the US, the largest sportswear market," Schwartz said. "Thanks in part to Yeezy, its US business is back to normal." "It helped restore relevance to their North American business, made adidas relevant to the collectors' market, and possibly gave them access to a demo they missed."


Kanye West has remained ambiguous about the future of his partnership with Adidas, telling reporters outside his daughter Northwest's basketball game on October 22, "We're looking at the law now, so anything can happen."


Adidas has not responded to Fortune's request for comment at press time.


Anti-Semitic spokesperson


The Anti-Defamation League, a Jewish NGO, launched a campaign called #RunAwayFromHate to allow people to contact Adidas directly and ask the company to condemn West's comments.


In an open letter to adidas, ADL wrote: "In light of the increasing anti-Semitic statements from Kanye West in recent weeks, we are concerned to learn that adidas plans to continue launching new products from its Yeezy brand without visible tags, in recognition of the controversy surrounding his recent statements. .



Note that while adidas has condemned anti-Semitism in the West, hate groups like White Lives Matter and Goyim Defense League celebrate and promote Ye's comments.



"We urge adidas to reconsider its support for the Yi product line and make a statement that adidas and its community have zero tolerance for anti-Semitism," the association's letter read.


Kanye West also recently made a bid to buy alternative tech social media platform Parler. "In a world where conservative views are controversial, we must ensure that we have the right to express ourselves freely," Yi said in a press release on October 17.


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