Summary
Gap Partnership Termination
In this 2022 CNBC interview,
Ye (now known as Kanye West) discusses
ending his partnership with Gap, whose shares fell 4% following the announcement. Ye explains that despite his dream of creating high-quality, affordable fashion with Gap (specifically $20 products designed at the level of top fashion houses), the partnership failed due to pricing disagreements, Gap's failure to open promised Yeezy stores, and communication breakdowns. Despite bringing in top designer Demna Gvasalia from Balenciaga, Ye felt ignored by Gap's leadership and disagreed with their product distribution decisions.
Adidas Relationship Issues
Ye expresses similar frustrations with Adidas, claiming they made decisions without his input regarding colorways and product names, slowed his allotments, copied ideas that took years to develop, and compromised on quality. He specifically mentions a runner shoe that was intended to be a marathon shoe but became "the most uncomfortable Yeezy ever." Despite Yeezy reportedly generating 68% of Adidas' online sales and growing 80-85% the previous year, Ye felt undervalued compared to relationships like Michael Jordan's with Nike.
Vision for Independence
Describing the situation as a "day of liberation," Ye outlines plans to build his own independent company, emphasizing American manufacturing through factories he's purchasing in California. He positions Yeezy in the tradition of American innovation alongside Apple and Ford, and expresses frustration about corporate connections between his business partners, specifically mentioning board member overlap between Adidas and JP Morgan. Ye frames his departure from corporate partnerships as a desire to be valued for equity rather than just cash flow.
Education and Future Plans
Ye details his expansion into education through his school "Donda" (initially "Yeezy Christian Academy"), which focuses on practical skills including food engineering, automotive engineering, shelter engineering, computer software/hardware, financial literacy, and rocket science. When asked about Gap's future, Ye suggests only "one individual" could save the company (implying himself), concluding with: "I'm not going to argue with people that are broker than me about money," indicating his confidence in his business decisions and vision.*There may be errors on this page.