Kanye West’s $400 Million Net Worth is in Jeopardy After GAP Sues Him For $2 Billion
Kanye West looks to be having a difficult time lately. The troubled rapper is currently being sued by giant clothing company Gap for $2 million as a result of their failed cooperation. Gap reportedly filed a lawsuit against West and his clothing line in a Los Angeles court last month, according to court documents acquired by The New York Post.
The matter arises from a lawsuit filed by Art City Centre against Gap over modifications to a Los Angeles building that Gap owns. The structure serves as the storefront for Kanye West’s clothing brand, Yeezy.
Legal Trouble Continues For Kanye West
Gap allegedly blamed Kanye West for the company’s involvement in a separate case about the modification of a Yeezy store in Los Angeles, according to TMZ and Radar Online. In 2022, Art City Center sued Gap for a contract breach.
The lawsuit against West claims,
“by making and not repairing or restoring the foregoing alterations of the premises that (West) made without Gap’s participation or approval, (West) breached the strategic agreement and directly and proximately caused Gap to incur expenses to repair and restore the premises“.
Gap leased a structure from Art City Center in downtown Los Angeles, and from 2021 to 2022, it housed a Yeezy store. Gap was prohibited from changing the structure without permission.
Gap faced legal action after it allegedly “completed numerous, significant, unapproved modifications.” Art City Center claimed the building hasn’t been restored to its original condition in a lawsuit against Gap.
For damages, Art City Center asked for $1.5 million. In response, Gap sued Kanye West, claiming that he was responsible for all the renovations to the structure.
Gap said that Art City Center was wrong to sue them. The retailer demanded $2 million in damages from its former partner, claiming that it was not at fault for what Kanye West had done to the structure.
The rapper ended his 10-year collaborative deal with Gap last September after failing they hadn’t properly fulfilled the terms of their agreement.
Why Kanye West-Gap Partnership Ended Last Year?
Kanye West and GAP’s collaboration ended in September 2022. “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,” GAP brand President Mark Breitbard wrote in a statement. “And we are deciding to wind down the partnership.”
Mr. West said that the company had broken the terms of the agreement by, among other things, refusing to allow his Yeezy clothing line to have independent outlets. On social media, he has criticized the business numerous times, claiming that it has stolen his designs, ignored his pleas to join the board, and excluded him from meetings.
Nicholas Gravante, Mr. West’s attorney, claimed that Mr. West tried to resolve the problems with Gap but “got nowhere.” On behalf of Mr. West, he informed Gap in a letter that he intended to cancel the agreement on Thursday.
“Gap left him no choice but to terminate their agreement,” he said. “Ye will now promptly move forward to make up for lost time by opening Yeezy retail stores.”
The company, which is owned by Mr. West, was valued at $2.9bn in 2020 when the 10-year deal with Gap was announced.
Source: MARCA
