Grammy-winning rapper Kanye West has officially brought new meaning to black excellence. The hip-hop superstar has teamed up with fashion giant GAP for a new 10-year partnership.
Kanye x GAP
On Friday, Mr. West went to his social media pages to break the huge announcement. Kanye West hinted at the GAP deal uniting his popular Yeezy brand with the global apparel powerhouse.
According to reports, Kanye’s Yeezy brand will now land in stores across the globe. While details are still scarce, the partnership will introduce fans to Yeezy Gap with gear aimed at men, women and children.
The deal is a multiyear partnership, according to a Yeezy spokesperson. West has been traveling to Gap’s San Francisco headquarters from his ranch in Wyoming to work on the line, which is still in its design phase, the spokesperson said. The line won’t include footwear, a market in which Yeezy already collaborates with Adidas AG. (Bloomberg)
Wait, There’s More
GAP made sure to confirm the news in a press release. The company even referenced Yeezy’s past days of working at the retailer’s stores before blowing up in the music biz.
“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 to the press. (Business Insider)
Before You Go
The huge announcement immediately sparked GAP’s stocks. The news also comes following a huge financial blow the company suffered as a result of the worldwide coronavirus pandemic.
Shares were up by as much as 31% Friday morning. The move added more than $500 million to Gap’s market cap of $3.8 billion. Gap has been struggling to resonate with customers and the coronavirus pandemic dealt it another blow. Sales at Gap’s namesake brand were down 50% in the first quarter, which ended May 2. (CNBC)