Earlier today, it was reported that Kanye’s lawyers had sent a notice of termination letter to GAP executives, effectively ending the partnership between Ye and the clothing giant. Now, executives at GAP have responded to the notice, agreeing to end their partnership with Kanye.
GAP President Mark Breitbard reportedly wrote, “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. And we are deciding to wind down the partnership.”
Kanye had interviewed with CNBC earlier today after it was reported that GAP’s stock was declining after the announcement of the split.
“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, that are designed at the same level of the top fashion houses of the world,” Kanye said when asked why he’s leaving GAP. Ye went on to say how GAP set price points way above what he wanted them to be, copied his designs, did not release any clothing from the partnership in stores, and did not open up Yeezy GAP retail stores.
This is a developing story.