Kanye West's new Yeezy x Gap hoodie sells out in less than 24 hours
Kanye West may or may not be a sell out, depending on who you ask, but his new Yeezy sweatshirts certainly are. The hoodies released this week under his brand sold out in less than 24 hours, according to Bloomberg.
Offered in various colors in adult and kid sizes, every version of the Yeezy x Gap Perfect Hoodie appears on the Gap website to be either sold out or on back order. Gap did not respond to CBS MoneyWatch's request for comment about the item's availability on Thursday. The hoodies, which sell for $90, mark the second time the rapper-and-fashion designer has unveiled clothing at Gap.
West, known for rap songs such as "Gold Digger" and "Stronger" as well as having been married to Kim Kardashian, unveiled the first item under a 10-year, multibillion dollar clothing partnership he signed with Gap in June. Called simply "Round Jacket" the blue puffer jacket, made of recycled nylon and priced at $200, also sold out just hours after its release, according to CNBC.
Gap, which suffered through a sales slump during the pandemic, had about 3,100 company-operated stores and 615 franchise stores as of March. The company reported $4.2 billion in revenue as of August.
In a press release this summer announcing its clothing collaboration with West, Gap described the new Yeezy line as designed to "deliver modern, elevated basics for men, women and kids at accessible price points."
Under the partnership, West will receive royalties and possibly Gap stock based on how well Yeezy items sell, The New York Times reported. Neither West nor the Gap have revealed when a third product will become available from Yeezy x Gap.
West, 44, worked for the Gap in Chicago as a teenager, which he mentions in his 2004 song "Spaceship."
In March, West became the wealthiest Black American, according to Bloomberg, which estimated his net worth at well beyond $6 billion. That figure includes West's Yeezy clothing line and shoe deal with Adidas and Gap, which investment bank UBS valued at $3.2 billion to $4.7 billion. It marks a far cry from 2016, when the artist told BET News that he was $53 million in debt.
West talked about the significance of sweatshirts in fashion in an interview with Vanity Fair in 2015, years before the coronavirus pandemic would make sweatshirts and sweatpants the unofficial work-from-home attire.
"I think sweatshirts are the way of the future," he said. "And we worked so hard on our development of our actual sweatshirts to make them fall a certain way, the dyeing that we do, the type of washing where we take a thicker Japanese stretch French terry and wash it down to where it keeps its original qualities but then feels so thin."