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Gap‘s stock price, $GPS, took a tumble yesterday amid Kanye West’s threat to walk away from the new partnership his Yeezy Brand has with American staple. Gap saw its stock price tumble 6% in one day.
West issued an ultimatum to both Gap and Adidas, saying he would “walk away” from both companies unless they put him on their corporate boards. The statement came at his first 2020 presidential campaign rally, where he also made controversial remarks about abortion and Harriet Tubman.
“In risk or no risk of losing whatever deal possible, I am not on the board at Adidas,” he said. “I am not on the board at Gap, and that has to change today, or I walk away.”
Gap shares soared nearly 19 percent on June 26 when it announced the Yeezy Gap line of affordable “elevated basics,” set to hit stores next year. Under the deal, Gap agreed to pay Yeezy royalties and potential equity related to sales performance.
Gap also announced plans to start requiring all customers to wear a mask in its stores located in North America beginning August 1. This comes following the steadily increasing number of COVID-19 cases. Many other retail stores are doing this, some cities are even making it necessary for indoor building and facilities to require a mask. The brand also added masks to its website. You can find a 3-pack of Gap face masks here for $15 as the American staple brand also promises to donate 50,000 masks to the Boys & Girls Clubs of America and the Boys & Girls Clubs Of Canada.
https://twitter.com/kanyewest/status/1285420423056748546
Kanye West is currently trending on Twitter after a recent rant where he mentioned that mother-in-law Kris Jenner has been ignoring his calls, his wife Kim tried to fly a doctor to Wyoming to help him manage his mental health, and even pledged support for Bill Cosby. He’s since deleted some of the tweets and has decided to put all his focus towards the album he’s dropping on Friday named after his late mother, Donda.
https://twitter.com/kanyewest/status/1285433509142650881
