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YEEZY GAP IS COMING! Kanye West Inks 10-Year Partnership Deal With GAP, Shares Skyrocket More Than 30% On #WestDayEver

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From working at GAP as a teen to creating your own collection with a 10-year partnership with the brand. Kanye West has some new fashions in the works. More inside…

 

It’s Kanye West’s #WestDayEver!

Today, it was announced Kanye West inked a 10-year partnership deal with clothing company GAP. And it’s a full circle moment for the Chi-town native. He used to work at GAP as a teen and talked about it on his 2004 track “Spaceship” from his College Dropout album.

If this type of deal sounds familiar, it's because celebs (Beyonce's Ivy Park for Top Shop - which she bought the store out their portion of so now she owns that 100%, Colin Kaepernick with Nike, Oprah with WW and more) have been doing more and more long term partnership deals like this lately, especially since legacy retail stores like Gap are struggling.

Looking to revive the apparel chain, Yeezy will design a new line of clothing for men, women and children, dubbed Yeezy Gap. The line does NOT include footwear since 'Ye has a partnership with Adidas that lasts through 2026.

Yeezy Gap is expected to hit stores and debut online in 2021. The line will reportedly be made up of “modern, elevated basics” sold at “accessible price points.” The price point is supposedly under $100.

 

 

Following the announcement, Gap shares skyrocketed – the most since 1980. According to CNBC, GAP shares soared by about 39% Friday morning, adding more than $1.4 billion to Gap’s market cap, pushing to more than $5 billion.

Deets on the terms of their deal are being kept hush, hush. What we do know is that ‘Ye will receive royalties and potential equity under the terms of the deal depending on its sales. Kanye and GAP will have to option to renew after five years. In five years, Gap is hoping that Yeezy Gap will be generating $1 billion in annual sales. For context, the GAP brand brought in $4.6 billion in global revenue last year.

‘Ye is the sole owner of the fashion brand.

Kanye's wife - Kim Kardashian West - showed support of her husband's new deal via social media:

 

 

We giess the hobochic look works for GAP.  It may just be the perfect fit, to be honest. 

Will you be copping Yeezy Gap when it debuts next year?

 

BONUS:

Kanye West and Kid Cudi just released a sneak peek at their animated show, "Kids See Ghosts." Check it out above.

 

Photo: MEGA

 

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