It's a wrap for Kanye West and Gap. According to CNBC, in a letter sent by his lawyer, Kanye said Gap failed to meet obligations in the agreement. He was particularly upset about the distribution of products to store locations and the slow progress made on the creation of YZY Gap stores.

Gap CEO Mark Breitbard confirmed in a memo to employees today (Sept. 15) that Gap would "wind down" the partnership with Kanye, but it would still work through its Yeezy product pipeline. The partnership between Kanye and the retailer was announced back in June 2020 and was set to continue through 2026. The first Yeezy Gap line, a blue puffer jacket, sold out in hours when it was launched online in June 2021. Shares of the retailer fell nearly 4% Thursday.

“It was always a dream of mine to be at the Gap and to bring the best product possible,” Ye told CNBC’s “Closing Bell” on Thursday. “Obviously there’s always struggles and back-and-forth when you’re trying to build something new and integrate teams.”

He said he wasn't able to set the prices he wanted and didn't approve of color selections. “It was very frustrating. It was very disheartening because I just put everything I had. I put all of my top relationships,” he said. “Our agenda, it wasn’t aligned.”

He also wasn't happy with the progress of launching physical Yeezy retail stores in partnership with Gap. “Everyone knows that I’m the leader, I’m the king,” he said. “A king can’t live in someone else’s castle. A king has to make his own castle.”