Following widespread public outcry, Adidas announced it had ended its relationship with Ye, stopped production of Yeezy-branded products and ended all payments to Ye and his companies.
Foot Locker and Gap soon followed suit and announced they would pull Yeezy products from their stores.
That can happen with an athlete, it can happen with an entertainer, so it's part of the business," said Gulden.
Despite the public comments from its chief executive, an Adidas spokesperson told CNBC that the company's position on Ye "has not changed."
Adidas CEO Bjorn Gulden defended Ye, the artist formerly known as Kanye West, and said the rapper didn't mean it when he made a series of antisemitic remarks.
Persons:
Nicolai Tangen's, Gulden, Ye, Adi, Bjorn Gulden
Organizations:
Adidas, CNBC
Locations:
Chicago, German