Image Source: XXL Magazine
Gap, leading fashion retail store and the artist Kanye West have decided to cancel their once-celebrated cooperation. Gap had anticipated the alliance would revitalize its brand.
In particular, Mr. West claimed that the company had not opened independent storefronts for his clothing line, Yeezy, in accordance with the terms of the agreement.
When it was announced in 2020, the deal with Mr. West, also known as Ye, was heralded as perhaps revolutionary.
Yet there have been indications of stress.
It took a year before the $200 (£173) puffa jacket that was the partnership’s first product was made available for purchase. However, due to the sluggish release of Yeezy products, including a simple sweatshirt priced at $90, there have been allegations that Gap is dissatisfied.
Meanwhile, Mr. West has regularly blasted the business on social media, claiming that it has imitated his designs, excluded him from meetings, and rejected his pleas to join the board of directors.
Gap, which has had internal problems, including sacking its CEO last summer, declined to comment.
However, although Gap and Yeezy shared many of the same principles, “how we work together to execute this ambition is not aligned,” its president and chief executive Mark Breitbard wrote in an email to colleagues that the BBC obtained.
Nicholas Gravante, Mr. West’s attorney, claimed that Mr. West tried to resolve the concerns with Gap but had been unsuccessful. On behalf of Mr. West, he informed Gap in a letter that he intended to cancel the agreement on Thursday. He claimed that Gap forced him into ending their contract. He continued to make up for the lost time, Ye will now immediately move forward by building Yeezy retail stores.
Mr. West, who first gained fame as a musician in the 2000s before moving into the fashion industry, has long had lofty goals for Yeezy, which is known for its foam sliders, sell-out sneakers, and boxy, oversized clothing in beige and black.
When the 10-year agreement with Gap was revealed in 2020, Mr. West’s business was worth $2.9 billion.
Since then, Balenciaga, a prestigious fashion house, has partnered with the two businesses. The most recent outcomes of that collaboration—a collection of black t-shirts, hoodies, and anoraks—created news when they went on sale this summer out of what appeared to be substantial garbage bags.
According to the letter addressed to Gap on Mr. West’s behalf, that relationship is regulated by a different contract.
Furthermore, Mr. West has an agreement with Adidas that will end in 2026.
Gap is laying off 500 office employees in the US and Asia
In an effort to reduce expenses in the face of declining sales, clothing retailer Gap will eliminate about 500 office positions.
Following the departure of the company’s chief executive this summer after her turnaround efforts failed, the move is the most recent shake-up at the organization.
Sales at the company—which also owns Old Navy and the Banana Republic—are down about 10% from a year ago.
Gap announced layoffs in its locations in Asia, New York, and San Francisco but shelved requests for a response from the BBC.
About 97,000 employees worked for the company at the beginning of the year, with about 9% in corporate positions. Thus, 5% of the workforce would have been reduced.
It was stated that vacant positions would make up some of the workforce reductions.
It happens after Gap’s once-celebrated collaboration with Kanye West recently ended abruptly.
Growing worries exist regarding the state of the US economy, which has shrunk recently.
Walmart, Bed Bath & Beyond, and Abercrombie & Fitch are a few other retailers that have recently announced layoffs.