Kanye West may be facing some tough times ahead, including a potential $30 million lawsuit on top of his impending divorce from Kim Kardashian. However, it looks like he may also have some bright spots for this year. Recently, the whole inventory of Kanye’s Adidas YEEZY 450 sneakers sold out in less than 60 seconds. And, according to Gap Inc. CEO Sonia Syngal, the purported decade-long partnership between West and The Gap, Inc. (called Yeezy Gap) should finally be ready to ship in a few months, too.
In an article from Business of Fashion, Syngal and company execs affirmed that Kanye is still on board with the arrangement and that product can be expected to hit shelves sometime near the end of Q2 2021. “I spoke to Yeezy last night, and he’s very, very focused on this incredible opportunity,” she said on a March 4 call with analysts. This is positive news for investors and fans waiting for the wares, particularly since Kanye tweeted messages last September, which stressed the need for diversity at higher corporate levels and even suggested he would hold the deal hostage unless given a directorship.
But one key point that may have influenced the deal was the appointment of Salaam Coleman Smith, also announced on Thursday’s call as well. Smith, formerly the EVP of Programming and Strategy at Disney’s ABC Family, was named to Gap’s Board of Directors, making the Stanford graduate only its sixth female member. “Salaam also shares in our company’s deep values, having hired and led one of the most diverse and inclusive management teams in the industry,” Syngal shared about her in an official statement. “I’m confident in all that Salaam will bring to our board and company as we look to lead boldly and with purpose through our powerful brands.”
While the full terms surrounding the Yeezy Gap deal have not been revealed, an undisclosed source said the parties retain the option to terminate or continue moving forward when they arrive at the midway point. By leveraging Kanye’s brand and popularity, the San Francisco-based clothing company expects his line alone to regularly generate $1 billion in sales per year by the five-year mark.
Kanye West’s Gap Collab is Still Good to Go for 2021, Confirms Company CEO was originally published on cassiuslife.com