Connect with us

Hi, what are you looking for?

Fashion

Kanye West Signs 10-year Deal With Gap

Kanye West announced on Friday that his fashion company Yeezy signed a 10-year deal with Gap for a new clothing line called Yeezy Gap. The line is scheduled to be introduced in the first half of 2021. Yeezy Gap will include “modern, elevated basics for men, women, and kids at accessible price points” but will not include a shoe line.

Kanye has always said it was a long-term goal to work with Gap. He wanted to become “the Steve Jobs of Gap”. In his deal with Gap, he will have full creative control including how the line is marketed. The goal for the line is to produce $1 billion monthly by the fifth year.

Kanye isn’t new to partnerships with major brands. In 2013, he signed a deal with Adidas. After the company undertook new management in 2016, Kanye closed a deal for 15% royalty of wholesale and retained 100% ownership of the Yeezy brand. This deal was definitely unheard of in the fashion industry. Kanye was on track to generate $1.3 billion of shoe revenue in 2019, a 50% increase from a year earlier according to Bank of America. The royalties from these sales would be $147 million.

Kanye West is very secretive when it comes to his assets and net worth. Earlier this year, Forbes reported Kanye is worth an estimated $1.3 billion, putting him amongst the highest-paid entertainers.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement


You May Also Like

News

The popular black owned vegan restaurant in Atlanta, Slutty Vegan has some exciting news following last week’s debacle. After making the choice to no...

Entertainment

On June 30th, Angela Yee interviewed August Alsina and he confirmed and spoke on the relationship between him and Jada Pinkett Smith. A couple...

Music

Enchanting is 1017 Records‘ new artist coming out of Houston, TX.  She is fully tatted, has a smooth flow, a style of her own,...

Music

Verzuz took a trip to New York for the latest edition of the Instagram Live battle featuring hip-hop legends Fabolous and Jadakiss. Even with...