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kanye-west has formally notified gap ending their collaboration. The artist’s lawyers sent a letter to the company on Thursday to notify them of the termination, according to reports The Wall Street Journal.
In the letter, Kanye argues that Gap has breached its agreement by not selling clothing as planned, or opening stores. The merchandise of yeezy gap that is already available in stores will remain there and continue to be available for purchase, according to the document. It also said the company was required to sell 40% of Yeezy Gap merchandise in stores during the latter part of 2021.
Only one item from the collection went on sale last fall and it was available online and not in a store. In addition, the brand has not opened any Yeezy Gap stores, when the condition was that it had to open five retail establishments before July 31, 2023.
The Yeezy Gap by merchandise Balenciaga it debuted in stores in July and there will be more in the fall, as this collaboration is said to be unaffected. Three months after signing the deal, Kanye threatened to retain his line unless he got a seat on the board of directors. And it was in August when the singer criticized Gap and spoke directly with his executives to ask them to give him “really the position to be Ye and let me do what I think, or I will develop my ideas elsewhere”.
That same month, the ex of kim kardashian was criticized after making the decision to display his new Yeezy line in garbage bags in stores GAP, after critics complained that it was making fun of the homeless. The rapper then told Eric Shawn, of FoxNews, which was only trying to challenge the conventional traditions in the way of dressing and make clothes more egalitarian and not pretentious. “I’m an innovator and I’m not here to sit back and apologize for my ideas,” Kanye said.
He also pointed out that the bags are not “garbage” bags, but construction bags and that the reason for his decision is so that people can informally put their hands in and take what they want to buy, adding that the objective is to make life easier and more casual so we can all basically dress in the dark. Twitter users expressed confusion over her strange sight after photos were posted of her clothes stuffed into large black bags, rather than on hangers or neatly folded.
West revealed on Monday that he had ended corporate endorsements 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 be free,” said the musician – who now calls himself Ye– a BloombergNews. And he added, “Okay. I’ve made companies money and they made me money. We create ideas that will change clothes forever. Like the round jacket, the running foam, the shoes that have changed the shoe industry. Now is the time for Ye to create the new industry. There are no more companies that come between me and the public”.
Earlier this month Ye began a social media blitz against the two clothing companies, accusing Adidas of seizing creative control of the Yeezy brand. and stealing their design ideas to produce shoes similar to their boost. He also claimed that the shoe company had stolen the design. “Nobody should be in that position where people can rob them and say we just paid them to shut up,” he told Bloomberg. “That destroys innovation. That destroys creativity. That’s what destroyed Nicholas Tesla“.
Bloomberg reported that Ye has $122 million in cash and stock.but that his business deals make him a billionaire. His net worth is $2 billion, according to Forbes. The brand Yeezy earned $191 billion in royalties in 2020 from its deal with Adidasaccording to USB Group AG.
In January, it was reported that the initial estimate of sales of the line yeezy gap It was $1 billion, according to Forbes. In July Kanye said they had sold hoodies for $14 million at $80 per item. Also, he still owns a small stake in the brand. Skims of his ex-wife kim kardashian.
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