Gap’s CEO says the apparel chain is Partnership with Kanye West The rapper is still going strong despite the grip that he is not on the company’s board.
Gap CEO Sonia Sinjal said she spoke on Wednesday about her Yeezy Gap collaboration with West, a line of “elevated basics” that are on track to launch by the end of the first half of the year is.
“He is very, very focused on this incredible opportunity,” Sinegal told Wall Street analysts on Thursday Conference Call. “We are both very excited about it.”
The “Stronger” artist raised Gap’s stock price in June when he announced a 10-year deal between the clothing stalwart and his Yeezy brand, reportedly worth up to $ 3 billion.
But the 43-year-old West overshadowed the tie-up when he began his Quikotic presidential campaign the following month, saying he would “walk” until he could get a seat on Gap’s board.
He said after a September tweet that he is not even on the board of Adidas, which makes their Yeezy sneakers. “Black board seat mats,” West wrote.
But Singhal said West and Gap brand head Mark Breitbird are working “head down” to build the apparel line for men, women and children. West and company are working on the design in Wyoming, where they own a farm and record their 2018 album “You,” According to Bloomberg News.
“I’m impressed with how the team is highlighting their creativity and innovation in both product development and customer experience,” Sinegal said.
Gap’s share price jumped 5.1 percent to $ 26.67 in prepaid trading on Friday with encouraging news, expecting stronger earnings than in the quarter.
According to Bloomberg data, the San Francisco-based group made a profit of 61 cents per share for the final three months of 2020, according to Wall Street estimates. Gap also owns Old Navy, Banana Republic and Athleta clothing chains.
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