Monday, October 3, 2022

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Kanye West ends Yeezy’s Gap partnership to ‘make fashion affordable’

Rapper and designer Kanye West, who goes by “Ye,” has ended his Yeezy brand partnership with Gap Inc. (NYSE: GPS), two years after the deal was announced.

“Everyone knows that, you know, I’m the boss, I’m the king, okay, so a king can’t live in someone else’s castle. A king has to build his own castle” , West said Thursday on CNBC. Closing bell.

West announced a partnership with Gap in June 2020 to design and sell a line of clothing under the Yeezy Gap brand.

Multiple reports said West’s attorneys sent a letter to Gap on Thursday, notifying the clothing chain of the termination of its deal with Yeezy. The letter reportedly said Gap broke the deal by not releasing apparel and opening retail stores as planned. West confirmed this information Thursday afternoon.

“It was always a dream of mine to be at The Gap and bring the best possible product to the masses,” West said before explaining what was wrong.

West said he wanted to bring the quality of some of the world’s top fashion houses to consumers at affordable prices.

“We designed an entire collection and…I wasn’t able to come up with the actual price I wanted for that collection,” West said.

He told CNBC that he designed shirts with Gap that were supposed to retail for around $20, but the company priced the line of shirts at $200+.

“Don’t bring in a leader and make him lead…I’m sorry, I’m not going to argue with people who are brokers than me about money,” he added.

He suggested he was the only person in the world who could save Gap’s business.

West also took issue with Adidas over its Yeezy shoe partnership. The company wanted to make the shoes in China, while West wanted the shoes to be made in the United States.

“They even went and specifically hired people on my team to do collabs to try to fake versions with or try to dilute my message,” West said.

West said he bought factories in California in an effort to bring manufacturing back to the United States.

“In many ways, Europe led the prestige with luxury brands and luxury vehicles and China led the manufacturing, but America, we invented rock and roll …we’re the youngest startup ever, you know, “America itself,” West said.

Produced in association with Benzinga.

This story was provided to Pleasemynews by Zenger News.

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