Kanye West, a multi-industry creative entrepreneur, is teaming up with Gap to create a new line.
The partnership unites an iconic but struggling retailer, which recorded a nearly $1 billion second-quarter loss amidst the COVID-19 pandemic, with American rapper, entrepreneur and fashion designer, Kanye West, who owns the Yeezy brand, which is valued at $2.9 billion.
“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
As part of the 10 year deal, West and Gap will create a new Yeezy Gap offering under West’s creative direction. According to a press release, “the Yeezy design studio will develop the new line to deliver modern, elevated basics for men, women, and kids at accessible price points.” West will also extend his vision to in-store concepts as well as digital channels.
Under the terms, Yeezy will receive royalties and potential equity related to sales achievements.
The YEEZY Gap line is expected to appear in Gap stores and Gap.com in 2021.