Rapper Kanye West will design clothes for the American clothing chain Gap. The collaboration between Western fashion label Yeezy and the retail chain has a duration of ten years.
The clothes are given the name Yeezy Gap.
West has negotiated a reward that depends on the turnover of the clothing. In addition, he receives royalties and the opportunity to acquire shares in Gap.
Yeezy’s first garments should be in Gap stores next year.
Investors responded with satisfaction to the announcement and increased the Gap share by more than a third.
The retail group had plans to split off its Old Navy chain but refrained from doing so.
Gap has been struggling with declining sales for several years and is reaching harder young people. Last quarter, the company suffered from store closings due to the corona pandemic and saw sales fall by half.
West also designs shoes for Adidas. The agreement with the German sports brand runs until 2026. Last year, $ 1.3 billion in Yeezy shoes would have been sold.