Kanye West has inked a new deal with Gap Inc to feature his Yeezy line of clothing in their retail stores and online via Gap.com.
Aimed at young shoppers, the Yeezy-Gap line, which will offer items such as hoodies, basics, T-shirts and joggers, is expected to appear in Gap stores and on Gap.com in 2021, the two parties said. [Yahoo Finance]
— ye (@kanyewest) June 26, 2020
A source told me that the deal comes with the option to renew after five years. In five years, Gap is hoping that Yeezy Gap will be generating $1 billion in annual sales. For context, the Gap brand brought in $4.6 billion in global revenue last year.
— Sapna Maheshwari (@sapna) June 26, 2020
Yeezy Gap will hit stores in 2021. It's currently still in the design phase. West’s compensation will be tied to sales and his business will earn royalties and potential equity under the terms of the deal.
— Kim Bhasin (@KimBhasin) June 26, 2020