NEW YORK : Gap Inc has entered into a “multi-calendar year partnership” with rapper and trend designer Kanye West to generate a Yeezy line of apparel, each parties stated on Friday.
Aimed at younger consumers, the Yeezy-Gap line, which will supply objects such as hoodies, fundamentals, T-shirts and joggers, is anticipated to appear in Gap shops and on Gap.com in 2021, the two parties stated. West will maintain sole ownership of the Yeezy manufacturer.
Financial aspects were not disclosed, but Gap stated Yeezy would acquire royalties and prospective equity based on gross sales success. Yeezy stated the manufacturer is valued at $2.nine billion.
German sportswear organization Adidas also associates with West, selling Yeezy footwear built by West.
As a teenager, West, 43, labored at a Gap retail store in the Chicago place. “We are fired up to welcome Kanye again to the Gap spouse and children,” stated Mark Breitbard, the Gap manufacturer international head, describing West as “a artistic visionary, setting up on the aesthetic and good results of his Yeezy manufacturer” with the new Gap line.
A Gap spokeswoman stated the offer “is an instance of leveraging the manufacturer electrical power that Gap has and wondering in a new way about how we can introduce the manufacturer to new shoppers, new audiences,” she stated.
San Francisco-based Gap, which owns Banana Republic, Athleta and Aged Navy, was among non-vital merchants pressured to quickly near shops to curb the spread of coronavirus. Gap, which operates approximately 2,800 shops in North The united states, not long ago withdrew its entire-calendar year targets, suspended its dividend, furloughed employees and drawn down its current credit score lines.