Kanye West has formally notified Gap that he is terminating their partnership.The artist's lawyers sent a letter to the company on Thursday to notify them of the termination, according to The Wall Street Journal.The letter alleged that Gap breached their agreement by not releasing apparel as planned, or opening stores.The contract with Gap, signed in June 2020, is good for for another eight years.
The multi-Grammy Award-winning recording artist, who is also feuding with Adidas, still has until 2026 before his deal with the sportswear brand runs out.
The latest: Kanye West has formally notified Gap that he is terminating their partnershipBloomberg reported that Ye holds $122 million cash and stock, but that his corporate deals make him a billionaire.
His net worth is $2 billion, according to Forbes. The Yeezy brand earned $191 billion in royalties in 2020 from the Adidas deal, according to USB Group AG.
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