Kanye West ends partnership with Gap and plans to open his own stores

AFP

American rapper Kanye West, 45, told Gap on Thursday that he is unilaterally ending his partnership with the clothing brand and that he has plans to open stores for his brand, Yeezy.

“Gap left no choice for Ye (West’s new legal name) but to terminate her collaboration agreement due to the Gap’s material breach,” wrote the artist’s attorney, Nicholas Gravante, in a letter, the contents of which were partially obtained by the Gap. AFP

The also producer and stylist, with an unpredictable personality, signed a deal with the brand in 2020, with plans to combine classic Gap clothing with designs from West’s Yeezy brand. The Gap did not respond to AFP’s requests for comment.

Wall Street reacted badly to the news and Gap shares were down about 3% around 2pm ET. The announcement ends months of complaints on social media by West, in which he accused the brand of excluding him from the creative process and delays in marketing.

Gravante said West had “diligently” tried to resolve issues with the company, but “he hasn’t gotten anywhere”. “Ye will now move quickly to make up for lost time by opening Yeezy retail stores.”

According to The New York Times, Gap expected to make $1 billion (about R$5.2 billion) from Yeezy products alone in five of the ten years of partnership.

His collection launched this year replicated West’s signature style, with dark, baggy clothes and variations on the hoodie that was once Gap’s signature outfit.

Gap owns the Banana Republic, Old Navy and Athleta brands. With its popularity plummeting for years, the company has closed about 350 Gap and Banana Republic stores since October 2020.