Gap’s chief executive officer, Sonia Syngal, provided an update on the 10-year partnership during a recent call with analysts. According to Business of Fashion, Syngal claimed she had communicated with West earlier this week, and reassured analysts the multi-hyphenate has kept himself busy with the apparel line.
“I spoke to Yeezy last night and he’s very, very focused on this incredible opportunity,” Syngal said.
The news comes less than a year after West confirmed his deal with the once-mighty fashion brand. CNBC reported Gap stock prices surged up to 40 percent just hours after the announcement, and added more than $700 million to the retailer’s market cap. It was an encouraging sign for the company that has faced years of financial struggles, which have resulted in hundreds of store closures.
The company is now banking on the Yeezy collaboration to help continue its upward trajectory. Syngal outlined Gap’s 2021 plan during a call with investors last Thursday. She highlighted the company’s increased focus on e-commerce as well as its new product offerings, including the upcoming Yeezy Gap range, which is expected to drop later this year.
“The brand is back in a conversation at the zeitgeist of culture where it belongs,” she said, as reported by Sourcing Journal.
Yeezy Gap will offer men’s women’s, and kids’ co-branded apparel. West has teased the collection several times on social media, giving fans a peek into the Wyoming warehouse where he’s creating the pieces.
Gap shares took a hit last July, after West threatened to walk away from the deal during his infamous presidential rally in South Carolina. Weeks later, he said he wouldn’t release anything with Gap until he had a seat on its board.