Although the partnership Kanye West (or Ye) and the American fashion brand Gap sounded like a fairy tale – the talented yet controversial Ye was supposed to rescue Gap from obscurity and turn it back into a favorite brand for a young global audience, the story does not have a happy ending.
Kanye decided to terminate the collaboration, which was supposed to last until 2030 and bring him billion dollars in profit, due to alleged contract violations. As West explained in his style during an interview with CNBC’s Closing Bell – everyone knows he is the king, and a king cannot live in someone else’s castle but must build his own.
His Own Empire
Although the coexistence that lasted from 2020 brought Gap a billion dollars in its first year, and in 2021 increased West’s wealth by $970 million (Bloomberg), the partners parted ways quite tumultuously. The rapper and designer accused Gap of stealing ideas and publicly criticized them after learning they were holding meetings without his involvement.
He also stated that Gap did not distribute products as agreed, nor did it open specialized Yeezy Gap stores.
Gap, on the other hand, issued a statement claiming that they share the same vision with West regarding high quality, trends, and design, but not when it comes to how it should be realized.
In addition to terminating this lucrative partnership, West also criticized Adidas, with whom he creates a sneaker line, and promised his audience that he would build his own empire and that he no longer needs companies as intermediaries.
After the announcement of the end of the partnership, Gap’s shares fell by 3.6 percent.
