Kanye West Signs 10-Year Deal with Gap - and Their Stock Rises 42 Percent
Kanye did it again.
After launching his YEEZY clothing brand and mastering the shoe market with Adidas, Kanye West has struck a deal with Gap - and immediately boosted their stock 42 percent.
Gap announced it has signed West to a 10 year deal, and is expecting West’s new line of “Yeezy Gap” apparel to eventually generate $1 billion a year in sales. The stock price boost from just announcing Kanye’s deal added over $1 billion to Gap's market capitalization.
West, who worked at a Gap store as a teenager, said in 2015 that he wants to be “the Steve Jobs of the Gap.”
Talk about calling your shot!
“YZY GAP BEGINS” tweeted West.
According to the TeamKanyeDaily account, Yeezy Gap will debut in the first half of 2021.
Kanye has been speaking his clothing line into existence for years, recently showing off some of his designs to Dave Letterman.
Outside a Gap store in Chicago, words from Kanye West were draped across the building.
And it must be said, The Daily Dropout is looking forward to seeing the fresh designs from the artist behind the album The College Dropout.