Adidas cuts ties with Ye, known as Kanye West, saying it does 'not tolerate antisemitism'
Instagram and Twitter suspended Ye's account in the days following his anti-Semitic remarks. His business partnerships have also come under increasing pressure: Bank JP Morgan and clothing retailer Gap said in recent months that they were ending their relationship with Ye.
"Antisemitism, racism and hate in any form are inexcusable and not tolerated... We are partnering with organisations that combat hate and discrimination," Gap said on its Instagram account, @yeezyxgap. The phrase "Black Lives Matter" was widely used after George Floyd, an unarmed black man, was killed by a police officer in Minneapolis in the summer of 2020. It has since become a political and social movement that seeks to highlight racism experienced black people, particularly incidents of police brutality and racially motivated violence.
"Kanye is a producer and sampler of music. Last week he sampled and remixed a classic tune that has charted for over 3,000 years - the lie that Jews are evil and conspire to control the world for their own gain... As leaders of this company , we feel duty bound to say to all of you this is a pernicious, terrible use of false logic," MRCShares in Adidas fell as much as 8% after the announcement but have since pared their losses.