Kanye West’s Yeezy To End Gap Deal , Over Alleged Contract Violations.
Kanye West’s Yeezy To End Gap Deal , Over Alleged Contract Violations.
CNBC reports that according to a letter shared by Ye's lawyer, the rapper and entrepreneur is ending his contract with Gap.
The letter claims Gap violated its contract
agreements by distributing Yeezy products and opening dedicated Yeezy Gap stores without West's authorization. .
West's lawyer said, “Yeezy notified Gap of its concerns in August and gave the company a contractually-designated
30 days to cure its breaches,” but the retailer took no action.
West's lawyer said, “Yeezy notified Gap of its concerns in August and gave the company a contractually-designated
30 days to cure its breaches,” but the retailer took no action.
Ye will now promptly move forward to make up for lost time by opening Yeezy retail stores, Nicholas Gravante, Kanye West's lawyer, to CNBC.
The Gap-Yeezy partnership, which was announced in June 2020, was supposed to continue through 2026.
The first product launched by the
partnership in June 2021 was a blue puffer
jacket that sold out within hours.
The team-up was predicted to garner
$1 billion in its first year, but Gap has experienced declining sales. .
The company's
CEO left in July. .
In a recent interview with 'Bloomberg,'
West said it's “time for me to go it alone.”.
I made the companies money.
The companies made me money. We created ideas that will change apparel forever.
Like the round jacket, the foam runner, the slides that have changed the shoe industry. , Kanye West, via 'Bloomberg'.
Now it’s time for Ye to make the new industry. No more companies standing in between me and the audience, Kanye West, via 'Bloomberg'