The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The multi-year team-up with Kanye West’s Yeezy brand saw Gap garner $34.9 million in media impact value since its announcement in June of 2020, according to marketing software firm LaunchMetrics. The company determines media impact value through an owned algorithm that calculates the impact that various media mentions and placements has for a brand.
The news is a promising sign for the American mall staple, which hopes the partnership will bring it back into the fold of fashion relevance.
Earlier this year, the company said it expects revenue from the collection to top $150 million in 2022. Yeezy, West’s sneaker and apparel business, is valued between $3.2 billion to $4.7 billion — and Gap’s tie up with the musician-turned entrepreneur could be worth as much as $970 million of that total, according to UBS Group.
A sign of the company’s ongoing commitment to Yeezy — and perhaps an imminent announcement — Gap temporarily wiped its instagram content last week, changing its logo to “YZY” and sharing a photo of the first publicly-revealed product from the collaboration: a $200 blue puffer jacket. Gap has since returned to publishing its typical content.
Learn more: Can Kanye West Save Gap?
The controversial and influential entertainer and designer will bring his Yeezy collection to Gap in a co-branded line of apparel in 2021.
The category’s biggest brands by market capitalisation report results this week, and will need to show they have a plan to fend off fast-growing competition.
By investing in an elevated product and shopping experience, Spanish retailers Inditex and Mango are seeing tremendous growth despite fierce competition from the likes of Temu and a cash-strapped consumer.
The ByteDance-owned app’s e-commerce play has been met with mixed response from users. Still, sales seem to keep ticking up.
The fashion resale company finally became profitable last year, but it was at the cost of losing consignors who complain that reselling is no longer as lucrative as it once was on the platform.