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If the past month is anything to go by, Kanye West is on a monetary crusade. After a patent was filed for YEEZY beauty followed by a surprise drop of the foam runner, the rapper-cum-designer has since announced a partnership with Gap. The full collection is titled ‘YEEZY Gap’ and will see its debut in 2021. According to The New York Times, the highly anticipated collaboration will produce “modern, elevated basics for men, women and kids at an accessible price point.”
Almost immediately after the news of the 10-year partnership, Gap stock prices surged by 42 percent. It is believed YEEZY added more than $1 billion USD to Gap’s market capitalisation, lifting it to around $4.8 billion USD. The retail company hopes the collaborative effort with the ‘Ye brand will also generate $1 billion USD in annual sales after five years.
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GAP STOCK SURGES 42 PERCENT
MEANWHILE#WESTDAYEVER pic.twitter.com/JcQwNQx2m4— ye (@kanyewest) June 26, 2020
“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,” Global Head of Gap Brand Mark Breitbard has said.
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Kanye West is reported to have worked at the Gap in his teenage years. A 2015 interview with The Cut reveals, “One of my dreams was to be the head creative director of the Gap,” West says. “I’d like to be the Steve Jobs of the Gap … [I want] full Hedi Slimane creative control of the Gap.”
