It is said that Kanye is telling Gap that he is terminating the contract

It is said that Kanye is telling Gap that he is terminating the contract

top line

Kanye West’s lawyers sent Gap a letter Thursday announcing that he was ending his 10-year partnership with the clothing retailer, alleging that the company had breached its contract with the rapper because they had not released the clothing and opened retail stores as per previous arrangements, as per previous arrangements. to me The Wall Street Journal.

key facts

Gap was supposed to sell 40% of the Yeezy Gap clothing line in brick-and-mortar stores during the last two quarters of 2021 and open five retail stores featuring Yeezy products by July 31, 2023, although the company has yet to open a store, according to the letter. .

The news comes just days after West, who has legally changed his name to Yi, told Bloomberg that it was time for him to “go it alone,” announcing that he would end his partnerships with Gap and Adidas after contracts expired, after claiming in an Instagram video last week that he copied his corporate designs.

The Gap deal was due to expire in 2030, and the Adidas deal, in which the company produced and sold Yeezy sneakers, was scheduled to expire in 2026.

Gap and Western representatives did not respond to a request for comment Forbes.

Huge number

2 billion dollars. This is how much West is worth, according to Forbes. The Yeezy Gap line in the West reportedly generated $1 billion in sales in the first year, followed by the top line, Yeezy Gap Engineered By Balenciaga.

critical quote

West said during conversations with adidas executives at video It was shared on social media in August.

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