Here comes Kanye West’s Yeezy line at Gap

Here comes Kanye West’s Yeezy line at Gap

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Kanye West does not allow his sensational divorce from Kim Kardashian to hamper his creative juices when it comes to designing clothes for the new partner Gap (GPS).

“I spoke to Yeezy last night and he is very, very focused on this incredible opportunity – we are both very excited about it,” Gap CEO Sonia Syngal told analysts in a conference call on Thursday night. The Yeezy line is expected to be launched in the first half of this year, Syngal said.

Syngal stunned just about everyone on June 26, 2020 when she announced a 10-year clothing deal with Kanye West. Shares of Gap exploded 42% on the news when investors bought the idea that West – whose Yeezy range of sneakers had actually saved Adidas – would inject the much-needed life into a dying shopping mall brand. Although the details were scarce, hoodies, basics, T-shirts and joggers are expected to be included.

Syngal’s comments may alleviate some investors’ concerns about the partnership.

L FER - On this November 6, 2019 file photo, Kanye West attends the WSJ. Magazine 2019 Innovator Awards at the Museum of Modern Art in New York. The rap superstar will design clothing for adults and children that will be sold at Gap in 2021. Yeezy is especially known for expensive shoes that sell out quickly online. But Yeezy shoes, manufactured by Adidas, are not sold at Gap. (Photo by Evan Agostini / Invision / AP, file)

L FER – On this November 6, 2019 file photo, Kanye West attends the WSJ. Magazine 2019 Innovator Awards at the Museum of Modern Art in New York. The rap superstar will design clothing for adults and children that will be sold at Gap in 2021. Yeezy is especially known for expensive shoes that sell out quickly online. But Yeezy shoes, manufactured by Adidas, are not sold at Gap. (Photo by Evan Agostini / Invision / AP, file)

Since the Gap deal was announced, West has had a series of public moments. First, he declared that he would be elected president in 2020. Then he said he would no longer be eligible for president. After that, he is in a Twitter war over his well-being with wife Kim Kardashian and mother-in-law Kris Jenner.

More recently, the two announced they were going to divorce.

The Yeezy line comes when Gap tries to make the turn after years of struggling.

To that end, Gap has shown some progress with its latest earnings. In the fourth quarter, sales of Old Navy and Athleta increased by 7% and 26%, respectively. Sales of the same stores in Gap and Banana Republic fell by 6% and 22% respectively.

Gap predicts a return to growth in 2021. For the full year, Gap’s sales averaged a medium to high teen percentage for the full year. Earnings are predicted to be between $ 1.20 and $ 1.35.

Gap shares rose 4% in pre-market trading on Friday.

Brian Sozzi is a general editor and anchor by Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and so on LinkedIn.

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