“I believe that Yeezy is the McDonald’s and the Apple of apparel.”
Kanye West in March talking about making his clothing brand as recognized as Gap. Now, Gap and Yeezy will launch a collection together in a new multi-year deal.
- West & Gap announced a collaboration on a new line of clothing sold exclusively at the retailer.
- The deal does not include Yeezy’s shoe line – which is part of an official partnership with Adidas.
- Gap stocks soared after the deal. In one day of trading, the stock surge added the equivalent of $1B to the company’s market capitalization (or total worth). That said, the stock is still trading down for the entire year, reflecting the challenges Gap has confronted trying to regain its market share and popularity once enjoyed in the 1990s.
- Why It Matters: Kanye once worked for Gap, inspiring one of his song’s lyrics; his new deal is a remarkable story of life coming full circle. Gap has struggled over the years to find its footing after years of zig-zag sales.
- Bonus – Investor and Shark Tank host Daymond John talks about Kanye’s deal and why it matters to him: WATCH HERE
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