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Investing.com — Gap’s move to collaborate with Kanye West, which drove shares 40% higher, is proving to be a bumpy one.
He’s refusing to release products to Gap until he secures a seat on the board, the aspiring presidential candidate said on Twitter. West is asking for the same consideration from Adidas AG (DE:ADSGN), saying he’s wearing Nike (NYSE:NKE)’s Jordan shoes until he gets that seat.
Shares of Gap dropped 1%.
The Yeezy Gap collection is supposed to debut next year with hoodies, t-shirts and jeans at Gap-style prices. Gap can’t really afford to lose West. The San Francisco-based company reported lower sales across three of its four brands for the second quarter. In April, shares of the retailer fell to the lowest level in more than two decades.
West said earlier this month on Twitter that “Black board seats matter.”
