Founded in 1969 in San Francisco, USA as a select shop specializing in denim, Gap has grown into a global casual fashion brand, consistently offering modern American casual style. Today, Gap announces a partnership with Kanye West, a world-renowned musician, music producer, and creative director. A collaborative collection with Kanye West's brand, YEEZY, titled "YEEZY Gap," will be released in 2021.

Kanye West will retain sole ownership of his brand, YEEZY, which was valued at $2.9 billion in April 2020. Gap Inc. will retain sole ownership of the Gap brand. Under the terms of the partnership, YEEZY will receive royalties and potential equity based on sales as the collaborative business grows, benefiting both parties.

Kanye West and Gap have a history of working at Gap stores as teenagers in Chicago, which led to the reunion. This partnership will maximize the strengths of both parties: YEEZY's high creativity and fashion leadership, combined with the Gap brand's 51 years of expertise, know-how, and brand recognition as a leading supply chain in the industry.

YEEZY Gap will offer affordable items for men, women, and children under Kanye West's creative direction.

■Comment: Mark Breitbard, Global Head of Gap Brand
"We are thrilled that Kanye will rejoin the Gap family as a creative genius. Building on the vision and success of his YEEZY brand, together we will define cutting-edge retail partnerships."

■About Gap
Gap is one of the world's most iconic apparel and accessories brands and the authority on American casual style. Founded in San Francisco in 1969, Gap's collections are designed to build the foundation of a modern wardrobe, spanning everything from denim to classic white shirts and khakis to must-have trend pieces. Since expanding internationally in 1987, starting with London, Gap continues to engage with customers online and through approximately 1,600 company-operated and franchised stores around the world. Gap offers women's and men's apparel and accessories, as well as collections under the brands GapKids, babyGap, GapMaternity, GapBody and GapFit. The brand also offers value-conscious customers exclusive collections designed for Gap Outlet and Gap Factory Stores. Gap is the namesake brand of Gap Inc. (NYSE: GPS), a leading global specialty retailer that also owns Banana Republic, Old Navy, Athleta, Intermix, Janie and Jack and Hill City. For more information, visit www.gapinc.com.



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