Ye and GAP set their 2020 partnership for ten years, expecting the line to generate $1 billion in total revenue. The line was to be for men, women, and kids, with the mass market at Ye’s disposal and shifting the perception of GAP, granting it the “cool factor.” However, the businessman is now expecting to go fully independent in the fashion world and open his own Yeezy stores.
The GAP brand president, Mark Breitbard, released a statement to his employees explaining the end of the partnership with the Jesus Is King artist.
“While we share a vision of bringing high-quality, trend-forward, utilitarian design to all people through unique omni experiences with Yeezy Gap, how we work together to deliver this vision is not aligned,” Mark Breitbard said. “And we are deciding to wind down the partnership.”
West took part in a rare on-air interview on CNBC’s Closing Bell and discussed the partnership’s end.
“It was always a dream of mine to be at the GAP and to bring the best product possible to the masses, and I always talked to them about doing products for $20,” West expressed. “The best products in the world, designed to the same level of the top fashion houses in the world, at $20 for the people.”
Ye then gets into the crux of the partnership’s ending and alleged that GAP went back on their contract, refusing to honor what was initially agreed upon.
“So we designed an entire collection, and I wasn’t able to set the price that I wanted for this collection. They took my stuff and sold it for like $200 and above their whole price point normally and did the exact shirt for $20.”
“Also, they did pop-ups, and I signed on with them because in the contract, they said they were gonna do stores. And they just ignored us about building stores constantly. It was very frustrating. It was very disheartening.”
Ye capped his interview with a sentiment that will see the mogul diving headfirst into the fashion world independently, without the backing of a GAP.
“And everyone knows that I’m the leader. I’m the king, right? So a king can’t live in someone else’s castle. A king has to make his own castle.”
Kanye West’s lawyers sent a breach of contract on Aug. 16, with GAP responding to the letter a week later. Nicholas Gravante Jr., one of his lawyers, stated that GAP ultimately left the musician “no choice but to terminate their agreement.”
Watch the CNBC interview below.