According to CNBC News, Kanye and the Gap have partnered for a 10 year deal for the “Yeezy Gap,” apparel line. The retailer says that the clothing line will make its introduction during the first half of 2021.
Kanye West posted a photo on Twitter, captioned #WESTDAYEVER, with at model wearing a bright red jacket with a royal blue hoodie underneath and khakis. They appear to be unzipping a bag with “developed by Yeezy and GAP” printed on it.
Someone familiar with the negotiations reportedly said that they agreed upon the deal, which starts this month, with the option to renew after five years.
— ye (@kanyewest) June 26, 2020
The multi-year deal is set to kick off in 2021. Kanye West will be working with GAP to design apparel for men, women, and children “at accessible price points,” which will be available for purchase at GAP’s online and physical stores.
“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,” Mark Breitbard, Global Head of GAP Brand, said in a statement.
This moment has actually been a long time coming. As you may know, Kanye actually used to work at the GAP in high school. He’s mentioned his time working there in his music before, including on the song, “Spaceship” off his debut studio album, The College Dropout. “After I f*ck the manager up/Then, I’m gonna shorten the register up/Let’s go back, back to the GAP/Look at my check—wasn’t no scratch,” he spits. “So if I stole, wasn’t my fault/Yeah, I stole—never got caught.”
Gap shares soared Friday after Kanye West shared a photo that touted his collaboration with the retailer.
Shares were up by more than 31% in trading Friday. The move added more than $1.4 billion to Gap’s market cap, pushing to more than $5 billion.