Adidas Dumps Its Yeezy Inventory Amid Kanye West's Antisemitic Remarks

Kanye West's empire is taking a major financial hit. This week, Adidas announced that it had sold its final shoe from his brand, Yeezy.

The music mogul was dropped from the partnership after he made some extremely offensive remarks. How is Adidas handling the uncoupling of their businesses?

Adidas Completely Shed Its Yeezy Inventory

Adidas is putting its money where its mouth is. After Kanye made some antisemitic comments (including trying to sell merch that had a swastika on it), they completely terminated their contract with the rapper.

Their official statement stated their reasoning:

Adidas does not tolerate antisemitism and any other sort of hate speech. [Kanye’s] recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.

According to Variety, the brand's CFO, Harm Ohlmeyer, said they were getting rid of their entire stock of Yeezy shoes, demonstrating how serious they were:

There is not one Yeezy shoe left. It has all been sold and that episode is behind us.

Kanye Will Cost The Company Hundreds Of Millions

By choosing to terminate the deal, Adidas is knowingly losing out on millions of dollars of profit. It was estimated that it will impact their bottom line by as much as $246 million. It's also worth mentioning that when Kanye signed the deal with them back in 2013, it was valued at over $1 billion at the time.

Instead, the shoe brand has promised to donate part of their profits to organizations that work to actively combat antisemitism, including the Anti-Defamation League.