Although there may be trouble in paradise for major retailer Gap, Kanye West took to Instagram revealing previous milestones cemented through their partnership.
West’s comments follow days after it was announced that Gap’s CEO Sonia Syngal would be stepping down, Yahoo Finance reports.
According to the outlet, “The retailer warned it expects sales for the second quarter to decline in the high-single digit percentage range. Operating margins are pegged to land somewhere between zero to slightly negative. This marks the second straight material warning from Gap this year.”
West's Work With Gap
In a post on Instagram, West discussed a phone call with Gap chairman Bob Martin who he described as “one of the most inspiring people” in business.
West also spills why he wanted to initially work with Gap, revealing it was to “put good product directly in stores.”
“On my moms birthday I was able for the first time to sit on a Gap call with Bob Martin, Bob Fisher and other leads of the company. Bob Martin was one of the most inspiring people I’ve heard speak in business. He kept saying go to the stores on the call. I came to Gap to put good product directly in stores,” West wrote on Instagram.
The Perfect Black Hoodie
West has surely delivered his promises and consumers have been eagerly cashing out on the Yeezy x Gap partnership.
As AfroTech reported, the partnership was projected to reach $1 billion in sales within the first year. Now, West has provided additional insight into the success of the partnership.
“We’ve had 2 of the biggest sales day in Gap history since I’ve been there. We sold 14 million dollars worth of the perfect black hoodie at 80 dollars a hoodie off a television commercial that was ran one time. I came to Gap to bring good quality products to the people at all times. Bob I need to meet with you as soon as possible,” West also wrote on Instagram.
In Other News
In other news, however, Kanye West is reportedly facing a lawsuit filed by Phantom Labs.
Variety reports the production and design firm claims West has failed to provide financial compensation, totaling $7.1 million for their involvement in his “Donda 2” Livestream release show, his Coachella appearance, the “Free Larry Hoover” concert with Drake, several “Sunday Services” and the rapper’s studio spaces. The money was expected to be paid following the Coachella performance, which was supposed to compensate West at least $9 million. However, West pulled out from the 2022 Coachella lineup, putting Phantom Labs in a dilemma as they needed to be compensated for previous collaborations and money paid to vendors ahead of the canceled performance.
“We are incredibly proud of the work that we did with Ye and are disappointed that such a fruitful relationship has come to this,” a spokesperson for Phantom Labs said in a statement, according to Variety. “A celebrity weaponizing fame and reputation to take advantage of eager collaborators is simply unacceptable.”