The stock has gained nearly 130% over the past 12 months. Gap shares were up nearly 3% in premarket trading. In Gap's fiscal first quarter, sales surpassed pre-pandemic levels, driven by strength at Old Navy and Athleta.
The retailer is in the process of shedding underperforming locations in malls, to help drive future profitable growth. With the deal, Gap hopes to build momentum to draw in new customers or entice long-time customers to return to its stores. The value of the Gap tie-up could be worth as much as $970 million of that total, according to the report. Yeezy - which is West's sneaker and apparel business with both Adidas and Gap - has been valued at $3.2 billion to $4.7 billion by UBS, Bloomberg previously reported, based on internal documents compiled by the bank. Gap has not disclosed any other financial terms of the deal. The partnership is supposed to be a 10-year agreement, with Yeezy expected to receive royalties and possibly receive equity based on how much it sells. Gap Chief Executive Officer Sonia Syngal has been tight-lipped about any details. Questions have since swirled around when exactly the line would go on sale, how much the merchandise would cost, and what the pieces would look like. It has been almost a year since Gap's tie-up with West was announced. The 200 recycled nylon jacket in blue is the first product to be made.
The duo is likely using the jacket's debut as a way to gauge consumer interest in the collaboration. and Kanye West have debuted their much-anticipated Yeezy Gap line with a single item. It's unclear when additional items will be launched. A new down jacket could not keep this L.A. Personal Loans for 670 Credit Score or LowerĪfter only a few hours, the puffer jacker was already shown as sold out on Gap's website. Visiting Chicago in the summertime is like living inside the Kanye West track. Personal Loans for 580 Credit Score or Lower
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