ALL YOU NEED TO KNOW ABOUT KANYE WEST’S YEEZY AND GAP’S PARTNERSHIP

GAP STOCK SURGES AFTER THE DEAL WAS SIGNED

 

Kanye West recently returned to Twitter by announcing a partnership between his brand YEEZY and Gap. The full collection will be titled YEEZY Gap, and the alliance is expected to last at least 10 years. Here’s all you need to know about it.

 

Mowalola Ogunlesi confirmed her appointment as the Design Director of the YEEZY Gap collection as well. The YEEZY Design Studio that works under Kanye’ West’s directions will produce “modern, elevated basics for men, women, and kids at an accessible price point.” Kanye West will also be responsible for deciding how the collection will be presented in physical locations as well as the Gap web store.

 

The YEEZY and Gap Partnership is expected to be a 10-year deal, and it can be renewed halfway through the said period. Gap believes that by that time, YEEZY will add about USD 1 (About AUD 1.46) billion in annual sales. As per the deal, Kanye West’s YEEZY will get royalties as well as potential equity on the basis of sales performance over the next ten years.

When announcing the partnership between Kanye West’s YEEZY and Gap, Mark Breitbard, the Global Head of Gap said, “We are excited to welcome Kanye back to the Gap family as a creative visionary, building on the aesthetic and success of his YEEZY brand and together defining a next-level retail partnership.”

 

Kanye West also shared the first look of the YEEZY Gap collection. It seems that the collection will be built around some of the classic everyday staples such as cargo pants, hoodies, quilted jackets, and accessories that will be available in a range of bold colorways.

YEEZY AND GAP FORM PARTNERSHIP #WESTDAYEVER pic.twitter.com/NyxgfYTjJM

— ye (@kanyewest) June 26, 2020

#WESTDAYEVER pic.twitter.com/ASMwbx7T2o

— ye (@kanyewest) June 26, 2020

 

The deal was inked on Thursday, June 25, and it is expected to hit the market in 2021. The YEEZY Gap drops will include apparel for women, men, and kids. They will be made available via online and physical stores of Gap.

The YEEZY Gap deal has proven good for the market as well. Gap stock was up by 39 percent since Kanye West made the announcement of the deal. It has been reported that this collaboration has already brought over USD 1.4 (about AUD 2.04) billion to Gap’s market cap that stands at USD 3.8 (about AUD 5.54) billion.