Kanye West terminates Yeezy partnership with Gap

RAPPER and designer Kanye West says he is terminating his partnership with ailing apparel retailer Gap., potentially spelling the end of a troubled association that left both sides disappointed. 

Lawyers for West, who is known as Ye, sent a letter to Gap on Thursday (Sep 15) arguing the company had failed to release apparel and open stores as stipulated in the agreement.

“Gap left Ye no choice but to terminate their collaboration agreement because of Gap’s substantial noncompliance,” said Nicholas Gravante Jr, a partner at Cadwalader Wickersham & Taft.

Ye had “diligently tried to work through” the issues with Gap directly and through his lawyers but got nowhere, Gravante said. The artist will now move forward with opening Yeezy retail stores.

Ye and representatives for Gap did not immediately respond to requests for comment. The company had high hopes for the Yeezy deal when it was announced in June 2020, but product drops were intermittent and the tie-up has not meaningfully helped Gap’s results.

Bloomberg News reported earlier this week that Ye intended to wind down his current corporate deals and not sign new ones, instead independently retailing his designs.

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Gap shares were up 1 per cent to US$9.45 at 9.58 am in New York. The company’s stock has lost almost half of its value this year amid management upheaval and operational missteps.

The Wall Street Journal reported Ye’s planned termination of the Gap deal earlier on Thursday. BLOOMBERG