By Cynthia Akande
American Rapper, Kanye West is terminating the contract between his company Yeezy and Gap Inc., according to a letter shared by his lawyer.
Gap and Mr. West in 2020 announced a partnership to develop a collection of clothing under the Yeezy Gap brand. The rapper and designer had complained recently on social media about the arrangement and a similar deal he has with Adidas AG.
On Thursday, lawyers for Mr. West sent a letter to Gap notifying the company that his Yeezy LLC is terminating the arrangement. Gap breached the agreement by not releasing apparel and opening retail stores as planned, according to the letter, which was viewed by The Wall Street Journal.
The rapper had revealed on Monday that he’s done with corporate sponsorships and will not renew his current contracts with Gap and Adidas when they expire – a move that would jeopardize billions of dollars in revenue.
“It’s time for me to go it alone,” West told Bloomberg News.
“It’s fine. 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,” he continued. “Now it’s time for Ye to make the new industry. No more companies standing in between me and the audience.”
According to the letter, items won’t disappear from stores. Gap will be able to sell existing Yeezy Gap products before ceasing to use the brand name.
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