A teenage Kanye West worked at his local Gap in Chicago. Now, almost three decades and 140 million record sales later, West could help his old employer survive. Gap announced that it will partner with Yeezy, West's fashion brand, for a new clothing line.
Gap announced Friday that it will partner with Yeezy, West's fashion brand, for a new clothing line that will be introduced in the first half of 2021. The Yeezy Gap line will include"modern, elevated basics for men, women and kids at accessible price points." The financial terms of the deal weren't revealed.Gap shares soared 36% on the announcement Friday morning.The Yeezy deal could give Gap a much-needed financial and creative boost.
Sales plummeted 43% in Gap's fiscal first quarter that ended May 2. About 90% of the company's 3,900 global stores, which include Old Navy and Banana Republic brands, were temporarily closed starting March 19.Read MoreFor West, the partnership fulfills a long-term goal. In 2015, he summed up his fashion industry goals succinctly: to become"the Steve Jobs of Gap."West has had great success in the fashion space. As of the fall the Yeezy brand was expected to top $1.
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