Wells Fargo says Gap’s upcoming Yeezy line could bring in almost $1 billion in sales next year, far ahead of the $1 billion Gap was aiming for by 2025.
A previous report by Swiss bank UBS estimated that Yeezy’s separate collections with Gap and adidas were collectively worth between $3.2 billion and $4.7 billion.
- 64% of pre-existing Gap customers said they intend to buy items from the Yeezy collaboration.
- 23% of the people who don’t shop at Gap said they plan to purchase items.
- Yeezy’s first product with Gap, a $200 blue nylon puffer jacket, sold out in hours.
Yeezy signed its shoe deal with adidas in 2013 after leaving Nike the previous year. The line has been a smash success, bringing in nearly $1.7 billion in revenue last year.
Kanye owns 100% of Yeezy and earns 15% on all shoe sales from its adidas line. The deal runs through 2026.
West has publicly lobbied for a more significant position at both Gap and adidas.
Last July, at a South Carolina rally for his short-lived presidential campaign, West told the crowd, “I am not on the board at adidas, I am not on the board at Gap, and that has to change today or I walk away.”