Adidas CEO Sheds New Light on Kanye's Controversial Remarks about Jews

Adidas CEO Bjørn Gulden expressed his belief that Kanye West did not intend to make the antisemitic comments he made last year. In a recent podcast interview, Gulden praised West's creativity and referred to him as "one of the most creative individuals globally." Gulden acknowledged that the statements made by West were unfavorable, resulting in Adidas terminating their contract and discontinuing the Yeezy line.

Gulden, who is Norwegian-born and English is not his first language, expressed regret over the situation, stating that he believes the individual did not intend to say something offensive and is not a bad person. However, the way it was conveyed led to the loss of a highly successful collaboration, which is deeply disappointing. Adidas has not yet responded to CNN's request for comment regarding Gulden's comments. It is worth mentioning that Gulden assumed the position of CEO in November 2022, following the termination of the partnership with West.

In a separate podcast, West launched a verbal attack against the Jewish community, making derogatory and antisemitic remarks. He boldly claimed that he was immune to consequences, stating that even Adidas would not sever ties with him. Furthermore, he issued a menacing threat on his X account, vowing to relentlessly target Jewish individuals. These offensive comments sparked widespread global outrage, prompting Adidas to terminate their longstanding nine-year partnership with West.

Before this controversy unfolded, Adidas had already initiated a review of their collaboration with West when he appeared in public wearing a "White Lives Matter" T-shirt. The Anti-Defamation League has classified this phrase as a hate slogan commonly associated with White supremacist organizations, including the Ku Klux Klan.

Kanye West appeared at Milk Studios in Hollywood, California on June 28, 2016. The event marked the announcement of the exciting future partnership between adidas and Kanye West, known as adidas + KANYE WEST.

Jonathan Leibson/Getty Images for ADIDAS

Adidas sued by shareholders over its failed Ye partnership

Adidas suffered significant financial losses following the discontinuation of the Yeezy shoe line. Due to the inability to sell Yeezy apparel and footwear designed by prominent designers, the company estimated a revenue decline of $1.3 billion this year.

Despite this setback, the company has managed to partially recover from its losses through the successful sales of remaining Yeezy inventory. As a result, Adidas now projects an operating loss of €450 million ($491 million) in 2023, a considerable improvement compared to the initial forecast of a €700 million ($764 million) loss back in March.

Adidas recently signed a $1.2 billion deal with British football club Manchester United in an attempt to find another successful collaboration in the wake of Wests exit.