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.



Zalando Beats First-quarter Revenue Forecast, Confirms 2025 Goal

FILE PHOTO: Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. REUTERS/Clodagh Kilcoyne/File Photo
FILE PHOTO: Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. REUTERS/Clodagh Kilcoyne/File Photo
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Zalando Beats First-quarter Revenue Forecast, Confirms 2025 Goal

FILE PHOTO: Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. REUTERS/Clodagh Kilcoyne/File Photo
FILE PHOTO: Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. REUTERS/Clodagh Kilcoyne/File Photo

European online fashion retailer Zalando reported first-quarter revenue on Tuesday that was stronger than expected, boosted by additional customers and a good start to spring and summer sales, while confirming its 2025 guidance.
Revenue of 2.420 billion euros ($2.74 billion) for the three months ended March 31 beat analysts' average forecast of 2.367 billion.
The number of active customers rose to a new high of 52.4 million, up from 49.5 million in the first quarter last year, Reuters reported.
Zalando said it confirmed its guidance "despite a fast-changing geopolitical and macroeconomic environment", referring to global trade tariffs that have driven many in the consumer and retail sector to cut expectations for 2025.