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Kanye West Signs 10 Year Deal With Gap; Gap Stock Shoots up In Early Trading

By HHL JT
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Kanye West is taking his design talents to the Gap.

This morning Ye and the Gap announced that they had struck a ten-year deal to bring a more accessible version of his Yeezy line to the retailer.

The line will be introduced in the first half of next year and will feature "modern, elevated basics for men, women, and kids at accessible price points."  In addition to designing the line, Kanye will influence how it is presented in the stores.

Kanye worked at the Gap as a teen and has long been interested in partnering with the retailer.

The Gap, which has been beset with store closures and plummeting sales, is hoping the Yeezy line will generate a billion in sales a year by year five.  Last year, Gap made $4.6 million globally.

Kanye will be paid in royalties and potential equity.

Wall Street liked the deal.  Gap's beleaguered stock was up 30 percent in early trading.

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