Kanye West threatens to dump Yeezy x Gap deal
Clothing company, Gap’s stock fell nearly six percent this week following rapper, Kanye West’s comments he made at a public event over the weekend, criticizing Gap and Adidas, his business partners.
In videos shared on social media, West could be seen criticising Gap and Adidas, another apparel company his Yeezy brand partnered with in the past, saying he would leave both companies unless he is made a board member. West said he was not on either company’s board. “That has to change today or I walk away,” he said.
Neither company has responded to Kanye’s comments. Gap, announced a 10-year partnership with Yeezy last month for a new line of clothes that are “modern, elevated basics for men, women and kids at accessible price points.”
The initial announcement made by Gap and Kanye West sent the latter’s shares soaring nearly 19 percent on June 26. West has had great success in the fashion space, with his Yeezy company now worth about three billion dollars and was certified as a billionaire by Forbes earlier this year.