Kanye West’s fashion company, Yeezy, and Gap have arranged a 10-year deal called Yeezy Gap. The deal allows for renewal after five years, according to The New York Times. The line will create affordable basics for men, women and children.
Shortly after the announcement was made Gap’s stocks rose about 39% according to CNBC.
West was officially declared a billionaire back in April. His new success is credited to his Yeezy athletic wear line that is approximated to add 1.26 billion to West’s fortune. West owns 100 percent of Yeezy.
Although the rise in Gap’s stock suggests a bright future for the collaboration, some Twitter users took to the social media site to express their discontent.
Many believe that the joke is on West because Gap is predicted to file for bankruptcy within the coming years.
However, Gap brought in approximately 4.6 billion in annual sales last year globally. Gap also predicts that the new line will bring $1 billion annually.