Kanye West may have just revealed another piece from his hotly anticipated collection with Gap

Kanye West attends the 2020 Vanity Fair Oscar Party
Kanye West attends the Vanity Fair Oscar Party on February 09, 2020 in Beverly Hills, California.

  • Kanye West wore a jacket that looks like a black version of one from his collection with Gap.
  • Gap debuted a bright blue jacket last month, the first product in its collaboration with Yeezy.
  • The jacket cost $200 and was available for preorder.
  • See more stories on Insider’s business page.

Kanye West may have just given us a sneak peek at another item from his hotly anticipated collaboration with Gap.

The rapper and Yeezy founder was spotted Wednesday at the Balenciaga Fall 2021 Couture show in Paris, the legendary design house’s first couture collection since the 1960s, led by designer Demna Gvasalia.

West took in the show with Formula One driver Lewis Hamilton, NBA star James Harden, rapper Lil Baby, and model Bella Hadid while wearing a face-obscuring hood – a new wardrobe staple for West – black pants, Yeezy Foam Runners, and a black jacket that looks identical to the one Gap unveiled last month:

Kanye West seated at Balenciaga fashion show wearing Gap jacket
Model Bella Hadid, Formula One driver Lewis Hamilton, Kanye West, NBA star James Harden, and rapper Lil Baby watch the Balenciaga Fall 2021 Couture show.

The $200 jacket, which Gap has only displayed in a vibrant blue colorway so far, is the first product created in collaboration with West’s Yeezy brand. Gap made it available for preorder last month, and the rush to lay claim to the jacket initially crashed the site. (Multiple reports claimed the jacket had sold out, but there was no finite number of jackets, just a limited preorder window.)

Read more: Even Kanye West can’t save Gap, UBS says in brutal report on the retailer’s Yeezy deal

Gap debuted the first product in its Yeezy collaboration on Instagram.

A spokesperson for Gap did not immediately respond to questions about the jacket and whether the black version is part of the collection. But in videos posted of West from the show, the jacket appears to be made from the same shiny fabric and have the same rounded shape. Like the Gap version, West’s jacket doesn’t appear to have any button or zipper closures.

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Gap’s partnership with Yeezy, announced over a year ago, was seen as a major coup for the over-50-year-old brand. While some analysts remain skeptical that West can help revive the struggling retailer where he worked as a teenager, news of the deal initially sent Gap’s share price through the roof.

Despite the long lead time before launching the first item in the collection, Gap CEO Sonia Syngal said during a company earnings call earlier this year that partnerships like the one with West are expected to have “very big potential for us.”

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Kanye West is now reportedly worth $6.6 billion thanks to his Yeezy brand’s apparel and footwear deals, making him the richest Black American in history

Kanye West
  • Kanye West is the wealthiest Black person in US history with a reported net worth of $6.6 billion.
  • USB values West’s Yeezy collaboration with Gap at $3.2 to $4.7 billion, according to Bloomberg.
  • That valuation brings the mogul’s net worth to a historic new high.
  • See more stories on Insider’s business page.

Kanye West just became the wealthiest Black person US history.

The multifaceted star’s new net worth tops out at $6.6 billion, thanks to a new valuation of West’s Yeezy collaborations with Gap and Adidas, according to a report from Bloomberg. The publication reviewed a document from UBS Group AG outlining economic predictions for the rapper-turned-fashion mogul.

The bank estimated the Yeezy shoe collaboration with Adidas and the upcoming Yeezy clothing collaboration with Gap Inc. are worth about $3.2 to $4.7 billion, according to the report. About $970 million of that is attributable to the Gap deal, Bloomberg reports. The collection for the retailer will feature men’s, women’s, and children’s clothing and is expected to drop sometime this summer.

West’s net worth is also boosted by $1.7 billion invested across a number of assets, including Kim Kardashian West’s Skims brand, according to Bloomberg, which viewed unaudited documents provided by West’s attorney. The rapper holds around $122 million in stocks and liquid assets, the report said, and his music catalog has reportedly been valued at more than $110 million.

Forbes claims West is likely “worth less than a third” of that $6.6 billion – $1.8 billion – calling the “sky-high estimate” only “the latest of West’s attempts to inflate his net worth.” The outlet said it would not speculate any value for the Gap collaboration “until the products start to sell.”

The Yeezy clothing partnership with Gap Inc. was announced in June of last year, sending the retailer’s stock soaring, but analysts at the time were skeptical.

“For the deal to truly change Gap’s outlook, it has to increase Gap’s relevance with consumers so the rest of its business stops shrinking,” UBS analyst Jay Sole wrote in a note sent to clients following the announcement. “We don’t think this will happen.”

In September of last year West appeared on an episode of Nick Cannon’s podcast “Cannons Class” and said that his net worth rose to $5 billion after announcing his partnership with Gap earlier that year.

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