The long-awaited collaboration between Kanye West’s fashion label Yeezy and retailer Gap may soon be available for fans to purchase. According to Business of Fashion, the line is “on track to launch by the end of June.” The debut could prove profitable for the retailer, which has decided to close 350 stores to focus on e-commerce and off-mall locations.
In March, Bloomberg reported Gap expects the Yeezy line to break $150 million in sales in its full first year and hopes it evolves into a billion-dollar brand within the next eight years, with a goal of reaching $1 billion in sales by 2023.
News of the partnership was revealed by the rapper and producer on Twitter in June 2020. “Yeezy and Gap form partnership” he tweeted in all caps, adding the hashtag #WESTDAYEVER.
As VIBE previously reported, with the 10-year partnership, West retains sole ownership of the YEEZY brand, which is valued at more than $2 billion. Apparel sold through the deal will be available in-store and online.
“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,” said Mark Breitbard, Global Head of Gap Brand, according to the report.
According to a news release issued on May 27, Gap’s 2021 first-quarter net sales declined 16% versus 2019, with permanent store closures resulting in an estimated 11% sales decline, and international COVID-closures driving an estimated 4% decline on a 2-year basis. Overall for Gap Inc, which houses retailers Old Navy, Banana Republic, and Athleta, its 2021 first-quarter online sales grew 82% versus the first quarter of 2019 and represented 40% of the total business.