American clothing manufacturer Gap and rapper Kanye West have announced that they have signed a 10-year contract to create clothing under the Yeezy brand, which belongs to the musician.
A clothing line targeted at a young audience will appear in Gap stores in 2021. Hoodies, T-shirts, joggers and basic items will be on sale.
Following the news of the agreement, Gap shares rose 42%, peaking since March, when shares fell amid a coronavirus pandemic, Reuters reported. Subsequently, the value of Gap securities decreased: at the time of writing, notes per share on the exchange offered 12.8 dollars, which is almost 26% more than the closing level of previous trading.
Kanye West also partnered with Adidas, with whom he launched Yeezy sportswear. Thanks to this collaboration, in 2019, West became the highest paid hip-hop artist in the world according to Forbes magazine. According to the publication, for the year the rapper earned 150 million dollars.
In April Forbes recognized Kanye West is a billionaire. The magazine estimated his fortune at 1.3 billion dollars.
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