Gap Inc. chief executive Sonia Syngal declined to comment on a set date for the rollout of the highly anticipated partnership, which was originally slated to hit Gap’s stores and website this summer.
“We’re going to let Yeezy reveal the exact date,” Syngal told The New York Times ahead of its earnings call on Thursday, adding that the company was pleased with the results of the products so far and that “creativity takes time.” During the earnings call, Syngal suggested that the release could occur in either the second or third quarter of this year.
The multi-year partnership, announced in June 2020, is set to include Yeezy Gap apparel for men, women and children. It’s also expected to bring in roughly $150 million in sales in 2022, which is predicted to be its full first year in Gap stores, according to Bloomberg.
The hope is that Kanye West can revive the ailing mall brand and help it to recapture the momentum of its early 2000s prime. The Yeezy brand has already proven to be a financially powerful one: West’s sneaker deal with Adidas reached almost $1.7 billion in annual revenue last year, a 31 percent increase from 2019, even amid the pandemic.
“The planning that we’re doing is really multi-year potential,” Syngal said of the launch, as the company looks to reinvigorate the Gap brand to rival the growth of the higher-margin brands under its ownership, Old Navy and Athleta. The Yeezy partnership is just one of several brand extension efforts Gap is presently pursuing: this week, it also announced a home goods licensing deal with Walmart.