Antisemitic Fallout

From News Nation:

“Adidas, Gap, others drop Ye after antisemitic comments”

Several companies have publicly cut ties with the Ye, formerly known as Kanye West, in an effort to distance themselves from his antisemitic comments. The list of companies ending their business relations with Ye has continued to grow in recent days as public pressure escalates.

Adidas In a statement, Adidas said it “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.” Balenciaga fashion house Balenciaga fashion house cut ties with him, according to Women’s Wear Daily. CAA Ye’s talent agency, Creative Artists Agency, has cut ties with the rapper, The Los Angeles Times first reported. Foot Locker FootLockerNews.com reported Tuesday that the store was pulling Yeezy Sneakers from stores and online Gap Gap announced Tuesday it was “taking immediate steps” to remove Yeezy products from its stores and website. JPMorgan and Chase JPMorgan Chase and Ye have ended their business relationship, although the banking breakup was in the works even before Ye’s antisemitic comments. MRC Entertainment MRC Entertainment announced Monday it is shelving a completed documentary about Ye. Vogue A Vogue spokesperson told Page Six exclusively on Friday that it doesn’t intend to work with Ye again.

Tuesday night, Danielle Wiley, the CEO of a digital influencer marketing agency, weighed in on the latest news. She says “The bigger the celebrity, the bigger the risk” when it comes to partnerships. Earlier this month, Twitter and Instagram suspended Ye after he posted threatening comments about Jewish people on the social media platforms. During an interview on NewsNation’s “CUOMO,” Chris Cuomo questioned Ye if it’s possible that his words violated the apps’ guidelines. Ye responded: “I don’t believe in that term … I classify as Jew also, so I actually can’t be an antisemite.” Cuomo countered Ye’s comments, saying, “I know you are intelligent and understand that when you target people because of their faith, other people may do so the same … We don’t want to tolerate that.” Adidas to lose $2 billion by cutting Ye for antisemitic comments  Ye responded: “I don’t have to understand or accept because they’re not willing to understand or accept. That’s the reason why I’m not backing down.”

^ It is great to see companies do this even though they will lose money from it. I hope Kanye West loses all his Sponsorships and Deals and goes Bankrupt – maybe then he will stop spreading his Anti-Semitism. ^

https://www.newsnationnow.com/business/adidas-gap-others-drop-ye-after-antisemitic-comments/