Kanye West Seeks to Cut Ties with Gap

The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. REUTERS/Sarah Meyssonnier/File Photo
The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. REUTERS/Sarah Meyssonnier/File Photo
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Kanye West Seeks to Cut Ties with Gap

The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. REUTERS/Sarah Meyssonnier/File Photo
The Gap logo is seen on the front of the company's store in Paris, France, July 1, 2021. REUTERS/Sarah Meyssonnier/File Photo

Lawyers for Kanye West sent a letter to Gap Inc notifying the apparel chain that the rapper was terminating his partnership with the company, the Wall Street Journal reported on Thursday.

Gap breached its agreement with West by not opening retail outlets and releasing apparel as promised, according to the report, which added the company would still be able to sell existing Yeezy Gap products before ceasing to use the brand name.

Ties between the rapper and the clothing company have been increasingly strained recently, with West taking to social media to threaten to walk away from the brand earlier this month.

Gap did not immediately respond to a Reuters request for comment. But an attorney for West, who goes by Ye, told The Associated Press that a letter has been sent to the clothing chain seeking to terminate the contract between Gap and Yeezy.

Gap shares fell about 4% to $9 in premarket trading.

West and Gap signed a 10-year deal in 2020 to create a line of clothing under the Yeezy Gap brand.



L'Oreal Sales Rise 3.5% in First Quarter

 The logo of French cosmetics Groupe L'Oreal is seen on the L'Oreal group's headquarters building in Clichy, near Paris, France, April 14, 2025. (Reuters)
The logo of French cosmetics Groupe L'Oreal is seen on the L'Oreal group's headquarters building in Clichy, near Paris, France, April 14, 2025. (Reuters)
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L'Oreal Sales Rise 3.5% in First Quarter

 The logo of French cosmetics Groupe L'Oreal is seen on the L'Oreal group's headquarters building in Clichy, near Paris, France, April 14, 2025. (Reuters)
The logo of French cosmetics Groupe L'Oreal is seen on the L'Oreal group's headquarters building in Clichy, near Paris, France, April 14, 2025. (Reuters)

L'Oreal reported a 3.5% rise in like-for-like first-quarter sales on Thursday, beating expectations for slower growth, as strong demand for its face creams and perfume in Europe helped counter challenging conditions in the United States.

The French cosmetics group, which owns Maybelline makeup and Kiehl's skincare, reported sales of 11.7 billion euros ($13.30 billion) for the three months to the end of March.

Growth exceeded a Visible Alpha consensus of 1.3% cited by analysts at Jefferies, though it also included a 100 million euro benefit from phasing of an IT overhaul, the company said.