Several companies such as JP Morgan, Adidas, and Balenciaga have cut ties with Kanye West since his 2022 remarks were deemed antisemitic. However, since Ye’s partnership terminations, it seems those companies are also experiencing financial and reputational issues.
Since late 2022, Kanye West has lost several business dealings. Now, it seems those same companies are experiencing financial or reputational troubles since letting him go.
An Unfortunate Turn Of Events
Kanye’s former bank, JP Morgan Chase cut ties with him for publicly criticizing the company. Less than four months after dropping the Yeezy mogul, former JP Morgan Chase executive Jes Staley’s alleged sexually explicit emails exchanged with the late disgraced financier Jeffrey Epstein was revealed, according to a CNN report.
In an investigation from the US Virgin Islands government, Staley exchanged over 1,000 emails from his JP Morgan Chase email account with Epstein between 2008-2012, while he was under investigation for child sex trafficking. Staley would visit Epstein’s Virgin Islands residence while Epstein was incarcerated as well.
Balenciaga & Adidas In Hot Water
French designer brand Balenciaga cut ties with Kanye in October due to Kanye’s controversial comments. That following month, Balenciaga dropped their holiday campaign featuring children holding teddy bears in bondage harnesses and sexually explicit costumes, according to a report from The New York Times.
The company was accused of pedophilia, and #cancelBalenciaga later trended on Twitter. Balenciaga responded by issuing an apology statement on their Instagram story.
“We strongly condemn abuse of children in any form. We stand for children’s safety and well-being,” the statement read. The campaign was also removed from their official website.
Kanye also lost his deal with Adidas in October 2022. Since Ye was released in October, the sports apparel brand could lose over $1 billion in revenue in 2023.
The loss of revenue mostly involves the decrease in his Yeezy brand shoes, one of the company’s most popular products. In the past, Kanye expressed his frustrations with Adidas for making business decisions without his permission and also threatened to take them to court.
Kanye has not publicly commented on any of the companies’ current controversies.
New Kanye West Documentary & Podcast In The Works
A new documentary and podcast about Kanye West is on the way and will be released by the British network, BBC.
The documentary or podcast does not have a release date but will focus on Kanye’s life, music career, and controversy surrounding his comments that were deemed antisemitic.