Gap and Kanye West have reached a multi-year deal to see ‘Yeezy’ clothing line appear in Gap Stores in 2021, the company announced today.
This is the kind of deal that changes everything.
Gap had been struggling for months, especially since the COVID-19 pandemic forced the American retailer to shut down most of its stores. Today, the future looks much brighter as Gap unveiled a clothing and marketing partnership with Kanye West’s ‘Yeezy.’
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Gap explained that the new ‘Yeezy’ clothing line will appear in stores in 2021.
“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,” said Gap’s global head of branding Mark Breitbard.
Kanye West announced the partnership with a simple tweet: “YEEZY AND GAP FORM PARTNERSHIP #WESTDAYEVER.” Kanye also shared a first look at what branding could look like for the new clothing line:
https://twitter.com/kanyewest/status/1276495666781528066
According to a statement issued to The New York Times, the YEEZY design studio under Kanye’s creative direction will produce “modern, elevated basics for men, women, and kids at an accessible price point.”
The partnership is believed to be a 10-year deal and can be renewed halfway through that period. Gap believes that, by then, YEEZY will bring in $1 billion USD in annual sales. The deal will see YEEZY receive royalties and potential equity based on sales performance over the next decade.
https://twitter.com/kanyewest/status/1276462079625445382
Now, this is another good reason to look forward to 2021. Am I right?