On June 26th, Gap announced a new partnership with Kanye West. His YEEZY line of clothing is to hit stores and the brand’s site in 2021.
The apparel brand hailed the move as a “bold alliance.” It anticipates a winning combination will result from having “the creativity, fashion leadership, global recognition and energy of YEEZY” with the “Gap brand’s 51 years of expertise, 88% brand awareness, global reach and best-in-class supply chain.”
Kanye expressed his own excitement in the following tweet:
Gap shareholders showed their enthusiasm in increased demand. Gap’s stock price soared after the news broke. Gap can certainly use the boost, as it experienced a 43% loss in sales, according to its report on first quarter earnings. The brand was severely impacted by the forced closure of 90% of its stores due to the pandemic.
Aside from the obvious marketing boost, there’s a connection between the brand, the rapper, and designer behind YEEZY. Gap refers to it as a “return,” as it explains: “This partnership brings the relationship between West and Gap full circle, as Kanye worked in a Gap store as a teen growing up in Chicago.”
Mark Breitbard, Global Head of Gap Brand, said, “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.”
In reporting on the partnership, Bloomberg quoted Bloomberg Intelligence analyst, Poonam Goyal, who observed, it as “‘the right move to draw a younger shopper, rebuild lost connections, and get people to look at the brand again.’”
“Go west, young man” defined the American pioneer movement, and perhaps it will also work to rejuvenate a middle-aged brand.