When you think of Gap and Kanye West, you don’t necessarily put two and two together, but after years of the company struggling to keep up with a brand identity, the idea for a collaboration with rap sensation and clothing mogul, Kanye West, just revived their chances of popularity.
Kanye West and his brand Yeezy, will be teaming up with Gap to create a new clothing line called Yeezy Gap. This collection will be released within the first half of 2021. The Yeezy design studio, where West is the creative director, says they plan to create “modern, elevated basics for men, women, and kids at accessible price points.” This is great news for people who love the Yeezy style but cannot afford its luxury price point.
This collaboration will be a big deal for Gap as they bring on West who is a celebrity and creative entrepreneur, rather than just a typical designer for an exclusive line. The two companies agreed on a 10-year deal starting this month, with the possibility to renew after five years, according to a source familiar with the negotiations. Gap is hoping that within the first five years, they will be able to generate $1 billion in annual sales through Yeezy Gap.
Gap Inc., who is also the owner of Old Navy and Banana Republic are looking to refocus their brand as their sales have plummeted throughout the last few years. They have seen over 100 stores in North America shut down and have struggled to find their place in the fashion industry. Like many other retailers during this pandemic, they have also taken a big hit to sales.
The collaboration between West and Gap is a full-circle moment for him as he worked for the company as a teenager and expressed his interest in the brand for years. In a 2015 interview, he said he would “like to be the Steve Jobs of the Gap” and has dreamed of being its creative director.
Gap will pay royalties and potential equity to Yeezy based on sales performances. In the past, he has worked with Adidas, where his brand has become its own category and he earns royalties on net sales of his shoes and apparel. Here’s to hoping this Yeezy Gap collection helps both Gap and Kanye West, and their consumers.
