Gap and Kanye West Officially End Partnership

Shoppers had lined up around a Gap location in Times Square, where the clothes were purposefully piled in what looked like garbage bin bags throughout the store.

Whether it would be enough to change the trajectory of the Gap was unclear. In its most recent quarter, Gap brand sales fell 10 percent from the year before. The Balenciaga Yeezy line is governed by a different contract and will not be affected by the Yeezy Gap termination notice.

According to Danielle Tully, another partner at Cadwalader, Ye is “not taking any action in respect to that contract at this time.”

The partnership with Ye is rupturing as Gap is searching for a permanent chief executive. Sonia Syngal, who oversaw the Yeezy Gap deal, left the chain in July. Bob Martin is serving as interim chief executive.

Ye has also posted statements on Instagram suggesting he is unhappy with his even longer-term relationship with Adidas. In 2020, the partnership brought in nearly $1.7 billion in revenue, according to Bloomberg. It is set to expire in 2026.

Ye is known for being very opinionated and liking control, said Staci Jennifer Trager, who leads the fashion law practice at Nixon Peabody, where she is a partner. That can be difficult when working in a partnership.

Article source: https://www.nytimes.com/2022/09/15/business/kanye-west-yeezy-gap.html