In view of the reaction of the financial markets, the agreement seems to be a wise choice. The American ready-to-wear brand Gap has entered into a partnership with rapper and producer Kanye West's brand Yeezy and will launch a dedicated line in 2021. After gaining up to 42%, the title concluded the session of Friday on the New York Stock Exchange on an increase of 18.8%, to 12.07 dollars. The 43-year-old artist immediately praised this performance on Tweeter.
GAP STOCK SURGES 42
PERCENT MEANWHILE # WESTDAYEVER pic.twitter.com/JcQwNQx2m4
Uncertainty over the duration of the agreement
According to the New York Times , the agreement is for ten years. Gap however refused to communicate the duration of this partnership while claiming that this information was false. The only thing certain is that the collaboration goes beyond the framework of a unique collection, as many brands have proposed in recent years with famous creators. In addition to a line for men, women and children, "at affordable prices", Kanye West will define his own visuals in stores and on the group's website.
Above all, it is a major marketing blow for Gap, which has struggled for several years to remain relevant in the ready-to-wear landscape, which is undergoing rapid change. At the start of 2019, the group announced the closure of around 230 stores after recording a 5% drop in turnover in 2018. The group slightly recovered its head in 2019, but the turnover of the only Gap brand posted a decline of 10%.
The coronavirus crisis hit the house created in 1969 in San Francisco hard and cut its sales in half. The group thus ended the period with a net loss of nearly $ 932 million. By joining forces with Kanye West, Gap offers to rebound one of the most prominent brands of the moment, very popular with young people.
Previous collaborations with Nike and Adidas
Rapper and successful producer, this atypical creator began collaborations in fashion in the mid-2000s, and launched his first line of Yeezy sneakers with Nike in 2007. He then broke up with the American equipment supplier in 2013, believing that his share of revenue. Then, the collaboration between Adidas and Kanye West, which began in 2014, helped develop the Yeezy brand, whose sales exploded, reaching around $ 1.5 billion in 2019.
More inspirational than truly fashion designer, Kanye West has hired the services of London-born Nigerian designer Mowalola Ogunlesi. At 25, she was appointed design director of YZY GAP. Its fairly radical fashion that reveals a lot of the body, already seen at London fashion week, is a priori quite distinctly offset from the comfortable and versatile aspect of the Gap universe.
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