Kanye West Threatens Gap, Adidas With Outrageous Demands
Kanye West was at it again with his tweets.
After revisiting his music contracts, he reviewed his deals with fashion alliances, Adidas and Gap.
The 43-year-old rapper and the famous sports giant are linked in the public's minds since West's sneaker designers for Adidas are prized. This includes the famous Yeezy Boost 350 V2s.
The business relationship between West and Adidas seemed to be positive in giving both parties a reputation.
But after revisiting his Adidas agreement, he took to Twitter to call out the brand that he wants to become part of the board of directors.
"I'M WEARING JORDANS TILL IM ON THE BOARD OF ADIDAS," he tweeted along with an emoji of a man skiing.
According to The Daily Mail, Adidas saw the share prices drop after West tweeted his demands.
In a Complex report, the dad of four, whose brand Yeezy developed over $1 billion in sales, is being insistent at the Adidas contract, saying he is not allowed to wear Nike Air Jordans.
Meanwhile, the Yeezy creator, who is working with Gap for a Yeezy Gap line that is expected to drop in 2021, also released a statement to his millions of followers saying, "I'M NOT RELEASING NOTHING ON GAP TILL I'M ON THE BOARD."
Aljazeera reported, that similar to Adidas, Gap shares went down 1.2% at 10:02 AM in New York, after an earlier decline of 4.8%.
As announced in June, the global head of Gap brand Mark Breitbard promised a "next-level retail partnership" while referencing the rapper's documented history with Gap, where he worked for as a teenager.
In July, shares of the retail giant dipped after Kanye West threatened to walk away from the company during his controversial presidential campaign in South Carolina.
At that event, he said that "Black board seats matter" as he addressed his business agreements with Adidas and Gap.
Reports of Kanye West reviewing his contracts comes after his recent demands to get out of his deals with his record label, Universal Music, and his publisher, Sony Publishing.
According to the "Jesus Walks" rapper, he doesn't want to put up any new music as he referred to the music industry as "modern day slavery."
He even tweeted screenshots of his contracts and uploaded them to his Twitter, but it is unclear what his objective was in posting the agreements.
The documents confirmed that West is a label owner, his G.O.O.D. Music label has been distributed since 2004 through Universal and presumes that his artists are also subject to the same standard contracts that are common in the music industry.
He has also been putting forward his firm views about record labels and ownership rights that he said he supports his enemy, Taylor Swift, who is embroiled in a battle with Big Machine Records.
The rapper compared today's music agreements as a "broken system," claiming that the "balance of power" between "label profit" and "artist profit" is too broad.
West suggested that he will be coming up with an even better process to make the entire process smooth.