Every collaborator drops Kanye

The Future. After many antisemitic comments and tweets, brands across the fashion and entertainment industry are cutting ties with Kanye. The decisions have come with financial repercussions. While the moves have hurt Kanye’s bank account and influence, don’t be surprised if Kanye opens his own direct-to-consumer platform (which he’s been signaling/threatening for a while) to sell Yeezy products… but who’s going to buy them?

Out of fashion
Everybody’s getting out of the Kanye business, reports Highsnobiety.

• adidas, defying Kanye’s belief that adidas would never stop working with him, cut ties with Yeezy and announced that it would “end production of YEEZY branded products and stop all payments to Ye and his companies.”
• Gap is immediately removing all Yeezy products from its stores, shutting down the Yeezy website, and said it plans to “partner with organizations that combat hate and discrimination.”
• Balenciaga was one of the first to end its partnership with the rapper, which surprised some because of Kanye’s close relationship with creative director Demna Gvasalia.
• CAA close relationship after Endeavor CEO Ari Emanuel and UTA CEO Jeremy Zimmer called on the entertainment industry to stop working with him.
• MRC had a completed documentary titled Ye ready for release but has permanently shelved the project (with one of the greatest press releases we’ve ever read).

Meanwhile, Universal Music Group reported its deal with Kanye and his G.O.O.D. Music label ended last year.

Money talks
The various companies’ decisions to cut ties with Kanye have knowingly come with some financial repercussions.

• While adidas owns the Yeezy designs, the brand’s collab with the rapper generated $2 billion in sales annually — 10% of its total revenue.
• The footwear brand also told investors that it would take a loss of $247 million this year and $400 million next year for shelving Yeezy.
• Gap’s deal was supposed to last 10 years and bring in $1 billion in sales annually.

And for Kanye, his comments (and doubling and tripling down on his comments) have stripped him from his billionaire status, with Forbes reporting that his net worth has dropped to roughly $400 million. And consider Ye’s search for a rich catalog buyout to be all but up in smoke.

Hate speech, which should never be tolerated, comes with a serious cost.