Kanye West’s Yeezy and Gap apparels are coming this summer.
If things go according to plan, the new Yeezy’s might be on shelves in time for summer. That’s according to Gap, who announced that they hope to drop the YEEZY collaboration by the end of June. The information was revealed through a report from Business of Fashion. It’s well known that they are hoping that Kanye West can revive the dying brand, which in recent times has recorded an 18% overall decline in sales.
In August 2020, the chain had to close 225 stores to keep the business profitable. They would follow that up with more closures before the end of that year. That was a tough month for the company that almost closed its doors permanently but survived. According to estimates from Bloomberg, Gap expects to see a $150 million jump in earnings following the release of the YEEZY line.
“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.
Gap’s chief executive officer Sonia Syngal recently had to address rumors that the deal had fallen through and that Kanye was no longer going to be working with them. “I spoke to Yeezy last night and he’s very, very focused on this incredible opportunity,” Syngal said at the time.
Those rumors were based off on one of Kanye’s tweets that read: “I DONT HAVE A BOARD SEAT AT GAP I DONT HAVE A BOARD SEAT AT ADIDAS … BLACK BOARD SEATS MATTER.” That was last September.
I DONT HAVE A BOARD SEAT AT GAP I DONT HAVE A BOARD SEAT AT ADIDAS … BLACK BOARD SEATS MATTER
— ye (@kanyewest) September 10, 2020
@ YZY GAP fitting pic.twitter.com/XHUJOY66dk
— ye (@kanyewest) July 17, 2020
The company has indicated that it will outline its further plans for YEEZY during its Q1 2021 earnings call on May 27th. According to Bloomberg, the deal is expected to make Kanye $970 million, pushing him into the billionaire’s club.