Kanye West signs 10-year deal with Gap
Kanye West has signed a 10-year deal for a new clothing line with Gap.
The 43-year-old rapper will launch Yeezy Gap, a new apparel line for men, women and children, with the American retailer next year.
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Kanye tweeted: ''YEEZY AND GAP FORM PARTNERSHIP #WESTDAYEVER.''
Kanye's wife Kim Kardashian West, wrote on Twitter: ''If anyone knows Kanye they know how much the Gap and Yeezy means to him so this partnership is his dream come true! I am so proud of him. You guys are going to love what they have in store for everyone! #WestDayEver (sic).''
As a teen, Kanye worked in a Gap store in Chicago and Mark Breitbard, Global Head of Gap Brand, said in a press release: ''We are excited to welcome Kanye back to the Gap family as a creative visionary, building on the aesthetic and success of his Yeezy brand and together defining a next-level retail partnership.''
According to the New York Times, the deal is for 10 years with an option to renew after five.
The brand reportedly hopes that Yeezy Gap will be bringing in $1 billion in sales within five years and the company will pay royalties and potential equity to Yeezy based on sales performance.
Kanye previously spoke of his desire to be the ''Steve Jobs of Gap'' and admitted he couldn't afford the clothes when he worked there.
He said: ''It's funny that I worked at the Gap in high school, because in my past 15 years it seems like that's the place I stood in my creative path -- to be the gap, the bridge.
''When I was working at the Gap at 15, I don't think I had any desire to actually make clothes, but I always felt like that's what I wanted to be around. I loved the fabrics, I loved the colours, I loved the proportions.
''Abercrombie was too expensive for me and the Gap was too expensive for me. Even though I worked at the Gap, I didn't get enough hours to get a discount because I was a part-time employee, because I went to high school.''