Kanye West seals 10-year deal with Gap

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The retail giant Gap and Kanye West’s Yeezy brand are joining forces to create a new clothing line to be called Yeezy Gap, which will be introduced to the public in 2021. The Yeezy Gap brand will have Kanye West as its Creative Director, with plans to create “modern, elevated basics for men, women and kids at accessible price points.” Mr. West’s “design vision” will extend to how the line will be showcased in Gap’s stores and online.

Gap is taking the deal a notch higher than the regular arrangement as they are signing a 10-year deal with the Chicago born rapper. And he has the option to renew the contract after five years. Gap is projecting that Yeezy Gap would have generated nothing less than $1 billion in annual sales in five years. The Gap brand made $4.6 billion in revenue, globally last year.

Gap Inc., which owns the brands Old Navy and Banana Republic, is working on reviving the Gap brand which has suffered dwindling sales in recent years. And has closed over 100 of its stores in North America as it has fought to make clear its position within the apparel industry. Gap like a lot of businesses, has also been adversely affected by the Covid-19 pandemic.

Kanye, who has worked at one of Gap stores in his teens, said he has been keen about the brand for years, he said in a 2015 interview that he would “like to be the Steve Jobs of the Gap,” and has dreamed of one day being its head creative director. Kanye visited the Gap’s San Francisco headquarters and met with Art Peck, the former chief executive.

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