Gap stock soars after Kanye West touts deal with his fashion brand

Brenda Watkins
July 5, 2020

While details are still scarce, the partnership will introduce fans to Yeezy Gap with gear aimed at men, women and children.

Also, Yeezy shoes, which can cost hundreds of dollars and even more on secondary markets, were expected to top $1.3 billion in sales past year. He then went on to partner with Adidas for his Yeezy footwear brand, which was recently estimated to be worth $3 billion United States dollars by Bloomberg.

Whether it's good or bad, there's no denying that Kanye West is always up to something. In a statement, the brands explained that the Yeezy Gap apparel is expected to release in Gap stores and on sometime in 2021.

The struggling Gap brand has inked a deal with the mercurial Kanye West to produce a new line marrying its American clothing classics with the rapper's Yeezy designs. In the wake of this indefinite postponement, Gap offered Telfar 25% of the design fee as an advance for work that had already been completed on the collab. This is a full-circle moment for the mogul since he worked at the Gap in Highschool. Yeezy is owned entirely by West.

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Reality star and West's wife Kim Kardashian shared her excitement on Twitter, stating, "If anyone knows Kanye they know how much the Gap and Yeezy means to him so this partnership is his dream come true!" Inking a deal with the media mainstay and culturally dominant West brand is sound marketing, infusing Gap with a freshness and reach they haven't boasted in a bit.

Financial details were not disclosed, but Gap said Yeezy would receive royalties and potential equity based on sales results.

He then launched a partnership with German sportswear giant Adidas and saw sales explode, hitting some $1.5 billion in 2019, according to Forbes.

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