Adidas Drops the Moron

[Effete Snob]

Proving, of course, that "they" control everything, Adidas has taken the worst possible course - three weeks of "tough it out" followed by finally deciding that they are not going to back hate.

I don't want to hear about Kanye being mentally ill. I looked through the ENTIRE Diagnostic and Statistical Manual, and I did not find a single mental illness that makes its sufferers say atrocious things about other religious or ethnic groups.

It's like that weird alcoholic drink that makes people racists - it just doesn't exist.

https://www.adidas-group.com/en/media/news-archive/press-releases/2022/adidas-terminates-partnership-ye-immediately/

ADIDAS TERMINATES PARTNERSHIP WITH YE IMMEDIATELY

adidas does not tolerate antisemitism and any other sort of hate speech. Ye’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.

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.

This is expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter.

adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.

All Beyoncé wanted for Christmas anyway, was me.

[Blue Owl]

1. Wonder what took so long???

[sir pball]

2. Their contract was no doubt immense and Byzantine

Way more involved than his other smaller collaborations; while OFC the only reason they (or anyone else working with him) cut him out is falling stock prices and damaged bottom lines, I'm willing to give a little benefit of doubt and say it took them a week longer than Balenciaga because there was a lot more legal crap to sort out before announcing "the partnership is over, right this second".

[Effete Snob]

3. If you are a board member about to deprive the shareholders out of 250M

....then you might want to get a legal opinion on your exposure for doing that.