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A major Adidas shareholder is demanding answers over the company's tumultuous relationship with Kanye West

Pete Syme   

A major Adidas shareholder is demanding answers over the company's tumultuous relationship with Kanye West
Retail1 min read
  • Adidas cut ties with Kanye West after his antisemitic rant last October.
  • The company began an investigation into his behavior towards Yeezy staff last November.

A top Adidas shareholder is set to demand answers from the company over its relationship with Kanye West, the Financial Times reported.

At the company's annual meeting on Thursday, Janne Werning, head of ESG at Union Investment — one of Germany's biggest investment firms — will urge Adidas to reveal the results of its investigation into Ye's behavior, according to a draft of his speech seen by the FT.

Last October, the rapper-turned-fashion designer was banned from Twitter after posting an antisemitic rant. Several companies cut ties with him as a result, including Adidas, Balenciaga, and Vogue.

West first partnered with Adidas in 2013 for his Yeezy brand, before a signing another 2016 deal described by the company as the "most significant partnership between a non-athlete and a sports brand."

But the relationship was tumultuous long before it came to an end last year.

According to Rolling Stone, West would scream and throw books across a room in 2020 as Yeezy staff said they feared for their wellbeing. And in 2018, he reportedly showed staff explicit images of his then-wife, Kim Kardashian.

The magazine also reported he told staff that his last Yeezy collection was inspired by "skinheads and Nazis."

According to Bloomberg, Adidas executives took just two minutes to decided to end the relationship. The company then forecast that its break-up with West would halve its earnings for the year.

Union Investment previously wrote to Adidas in November, asking when executives first learned about West's behavior, per the FT. Adidas then began its internal investigation, and the shareholder is hoping it will reveal the answers on Thursday.

Werning will urge Adidas to share the investigation's results "here and now" and demand the company "transparently clean up the scandal," the FT reported.

Adidas did not immediately respond to Insider's request for comment.




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