According to multiple outlets, the attorneys for the rapper sent a letter to Gap on Thursday saying they were ending their partnership because they did not release clothing and open retail stores in accordance with previous agreements.
The Vanity Fair Oscar Party is attended by the Yeezus.
According to the letter, Gap was supposed to sell 40% of the clothing line in brick and mortar stores during the last two quarters of 2021, and open five retail stores featuring the products by July 31, 2023.
The Gap and Adidas deals were set to end in the year 2030.
Gap and representatives for West did not respond to a request for comment from Forbes, but West's lawyer told CNBC that Gap was given 30 days to respond.
The news comes a few days after West, who has legally changed his name to Ye, said it was time for him to "go at it alone."
$1 billion. Forbes says that is how much West is worth In 2020, he became a billionaire. In the first year, West's line made $1 billion in sales, followed by the higher end line.
"You have to give me the position to be Ye and let me do what I'm thinking, or I have to do the thinking somewhere else."
In the last few weeks, West has taken to social media to criticize both GAP and Adidas. He has accused both Gap and Adidas of copying his designs. Gap said at the time that West and the company would create a line of modern, elevated basics for men, women and kids at affordable prices. The first product of the line sold out quickly and set a record for the most sales in a day for any Gap product. According to the Journal, the company was going to release new products during the holiday season. West gets royalties and equity from GAP sales.
According to the Journal, West and Adidas have been in talks for a week, with Adidas trying to save their partnership.
The Wall Street Journal has a story about a partnership being terminated by the partner.
He says that he will leave the Adidas and Gap partnerships once his contract ends.
The deal with Gap was terminated due to contract violations.
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