Adidas ended its relationship with West weeks after the rapper began making antisemitic comments, satisfying the ADL’s demands.
Adidas is the sole owner of the Yeezy line design rights, and selling it without the name and branding will save the company $300 million in royalties and marketing without Kanye West.
Adidas now expects its currency-neutral revenue to grow at a low-single-digit rate in 2022, down from a previously forecast mid-single-digit rate.
According to Forbes Magazine, the loss of West's $1.5 billion deal with Adidas has left him with a net worth of just $400 million.
German sporting goods maker Adidas ended its partnership with American rapper Kanye West, following a rash of offensive behavior.
Adidas' partnership with Kanye West is nearly a decade old and extremely lucrative. His Yeezy line brought the company an estimate $2 billion in revenue this year.
Gigi Hadid reposted Amy Schumer's Instagram post calling for the support of the Jewish people and standing up against the rise of antisemitism.
The agency had been facing increased calls in recent days to stop representing Kanye West, as multiple other people announced boycotts or the ending of professional ties.
West has become embroiled in controversy after he made several posts on social media maligning Jews.
Deutsch sees running — and sports in general — as a way to connect to Judaism.