Adidas Might Lose $1.3 Billion In Sales After Dropping Kanye West

Adidas is expected to lose billions after they decided to cut ties with Kanye West.

According to a report TMZ published on Friday, February 10, the sneaker company has been trying to maintain themselves by rebranding Ye's designs and selling them without the Yeezy name. Unfortunately, their efforts haven't been panning out the way they hoped. In a new financial report, adidas confirmed the possibility of losing a massive $1.3 billion in sales by the end of 2023. In fact, they could lose another $534 million if they were halt production on Yeezy-based products altogether.

"The numbers speak for themselves," CEO Bjørn Gulden said. "We are currently not performing the way we should."

It's been four months since adidas pulled the plug on their billion-dollar partnership with Ye. Adidas said that his hateful rhetoric towards Jewish people "violate the company’s values of diversity and inclusion, mutual respect and fairness.” They were one of the last corporations to severed their relationship with the problematic rapper after he went on an anti-Semitic tirade on social media and during interviews on various right-wing news outlets.

“Adidas does not tolerate antisemitism and any other sort of hate speech,” the company said in a statement. “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.”

At the time, the company acknowledged that the move would cost them at least $246 million. Since then, Ye's other high-profile business partners like Balenciaga, JPMorgan Chase, Gap and more have disintegrated. He also lost his billionaire status.