Kanye West, who now goes by Ye, is no stranger to making headlines. The rapper is now in the spotlight for his feud with two prominent brands – Gap and adidas.
In the most recent news, he has parted ways with Gap two years in on a contract signed for 10 years in 2020. According to news on CNBC, the move came as Gap allegedly wasn’t able to distribute Yeezy products in stores by the second half of last year. Ye’s lawyer told CNBC that Yeezy had notified Gap on its concerns in August and also gave the company 30 days to cure breaches.
Meanwhile Gap’s CEO also reportedly said that the way the two parties work was not aligned. According to news on the BBC, the rapper also publicly criticised the company on social media numerous times for copying designs and excluding him from meetings. In 2020, when Gap inked a deal with the star, its shares soared. The deal saw Gap agreeing to pay royalties and potential equity related to sales performance.
At the same time, Ye’s relationship with adidas has also been on the rocks, where the rapper has stated that he doesn’t wish to carry on the relationship post the termination of the contract in 2026. Ye’s Yeezy company made US$191 million in royalties from the Adidas deal alone in 2020, according to Bloomberg.
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