Kanye West is a billionaire and by now everyone knows it. The rapper apart from producing and composing songs has some big investments with flourished brands. Recently, there were reports that stated that he has plans to enter makeup with Yeezy but there have been no official announcements for the same.
In a new development, it is reported that Kanye West has signed a whopping multiyear deal with Gap, in which he has sold a line of Yeezy to the respective company and is named as Yeezy Gap.
As reported by Bloomberg, it’s a multiyear deal that will be manufacturing women, men, and kids apparel. It’ll soon be available by next year in stores as well online.
For the unversed, Yeezy is known for its footwear collection and has a huge collection of the same. Owing to the success of that, this is a collaboration only for apparel and no footwear.
As soon as the news went viral, Gap’s shares jumped by 24% in New York trading on Friday, this has been the highest in intra-day in three months.
Kanye West will be sharing profit with the sales of the upcoming brand and sharing the royalties of the same.
Last year, Bloomberg reported Yeezy’s let alone profit of its sneakers with an estimated value at $3 billion. Now, those are some crazy numbers coming in; isn’t it?
We can’t wait for the collection to drop in as soon as possible!