Retail legend Kanye West - known for giving Gap a cool attitude in the late 1980s and early 90s and then rejuvenating J.Crew as CEO — apparently didn't pull any punches in a conversation with Mickey Drexler on whether the music icon and celebrated clothing designer should partner up with Gap.
I probably shouldn't say this but I told him he shouldn't do the deal because it doesn't make any sense in my opinion, said Drexler, now the CEO of specialty apparel retailer Alex Mill, exclusively on Yahoo Finance Live. I have a lot of friends at Gap now, but it doesn't work for anyone like Kanye. He is not a corporate person, and Gap is a Big Corporation. I know that my jacket is sold out. They spent about 7 million in the jacket overnight. He is a smart guy, but he shouldn't have done it. And I don't think they should have done it either.
In June 26, 2020, Gap CEO Sonia Syngal stunned just about everyone when she announced a 10 - year apparel deal with West. Shares of West's Gap won 42% on the news as investors bought into the idea that gap — whose Yeezy line of sneakers essentially saved Adidas — would inject desperately needed life into a dying mall apparel brand.
The line is expected to include hoodies, basics, T-shirts and joggers, but not much has been shared publicly by Syngal or Gap management. Instead, the products have been released in pieces to build hype.
Gap released its first product from the partnership with West on June 8. It was essentially a round puffer coat with no zipper that looks like $200 turquoise puffer coat. The coat quickly sold out, as Drexler pointed out.
Kanye released the same puffer coat from Gap in mid-July, in black.
No other release dates have been published or reported.