Gap stock gets a lift after sewing up deal to sell Kanye West's Yeezy brand clothing line

Gap's announcement that a new collaboration with singer and entrepreneur Kanye West to bring his Yeezy clothing line to the retailer brought the company's shares soaring.

to bring his Yeezy clothing line to the retailer. The news on Friday sent Gap shares soaring more than 30% in morning trading, before closing up nearly 19%. The new Yeezy Gap apparel line will be available in stores and online starting in 2021, the company said

West owns the Yeezy brand, which was recently valued at $2.9 billion according to the announcement."This new apparel partnership furthers the size and scope of the Yeezy business, building on the ground-breaking success of Yeezy footwear," Gap said. West will lead the Yeezy design studio in developing a new clothing line of"elevated basics for men, women and kids at accessible price points." Gap will pay Yeezy royalties and possibly equity related to the line's sales levels.

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