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November 29, 2022: The chief executive and different senior leaders at Adidas discussed the potential that is falling out from its relationship with Kanye West, the report stated.
During the presentation to the Adidas executive board in 2018, a group of employees reportedly drafted the risks they confronted interacting with West is legally altered his name to Ye. The presentation included a few mitigation strategies, including cutting ties with the Yeezy owner, the report added.
But Adidas executives are not sever ties when the concerns were raised. Instead, according to Morningstar analyst David Swartz, they continued to meet with Ye, holding onto the partnership, making almost $2 billion for Adidas, or 10% of its revenue. In one meeting, the report added that Ye accused Adidas executives of taking his designs and showed them an adult video clip.
The German sportswear firm officially removed its partnership with Ye in October following the musician made offensive and antisemitic comments.
“Adidas does not tolerate antisemitism or hate speech,” the company said. “Ye’s latest comments and actions are not accepted, hateful and dangerous, and they are not following the values of diversity and inclusion of the firm, mutual respect and fairness.”
Almost after a month, Adidas stated that it was investigating accusations made by staff about Ye’s conduct following an anonymous letter alleging years of abuse.
According to employees speaking to the Journal, Ye’s alleged behaviour was not new. Some of them had increased concerns almost Ye to leaders and human resources at Adidas by 2018.
“It is currently unclear if the accusations in an anonymous letter are true,” Adidas said Thursday. “Therefore, we take these allegations and launch an independent search to address the allegations.”
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