Kanye’s $ 90 Gap hoodie is already 10 times the list price on Depop


Rapper Kanye West talks on the phone before attending the Versace presentation in New York City, USA on December 2, 2018

Gap quietly unveiled yesterday the latest offer from his collaboration with rapper Kanye West, a $ 90 Yeezy hoodie available in six different colors for pre-order. Within hours the sweatshirts sold out and most adult sizes weren’t available on Thursday morning (September 30).

The sweatshirts are now reselling in the Depop Online Marketplace for $ 899.99. Several eBay sellers have also listed the hoodies with prices ranging from $ 140 to $ 550.

Kanye’s appeal to Gap and fans

The appeal of working with Kanye is evident for a company like Gap, which has struggled to stay relevant in recent years. The retailer plans to make $ 1 billion within eight years from the Yeezy line and saw its inventory increase after the hoodie launched on September 29. A $ 200 blue puffer jacket also sold out within hours in June.

Yeezy Gap hoodies available on Depop September 30.

With the Yeezy collaboration, Gap taps into a huge and loyal fan base. One fan told The Fader in 2016 that he had accumulated enough Kanye clothes over the years to dress up every day, while another started a ‘digital museum’ to document the history of the merchandise. of the rapper.

West himself has grown his merchandise business over the years. Yeezy, his line of sneakers and clothing, is now valued at $ 4.7 billion with the Gap deal, accounting for the majority of his wealth.

Collaborations mean a lot of money for the aftermarket

If a collaboration with Kanye is a lucrative investment for Gap, it could mean a lot of money for the dealers, too. The Yeezy sneakers, which the rapper previously released with Nike and now with Adidas, sell for thousands of dollars in the resale market. The Nike Air Yeezy 2 has the second highest resale value on the RealReal consignment site, nearly 2,800% more than the original label.

The Yeezys aftermarket has gotten so crazy that in 2017 the rapper released the $ 200 shoes as a bundle along with other items to try and stop dealers from buying them so quickly. Nonetheless, there’s still a healthy appetite for the rapper’s merch online, as evidenced by the shirts from his recent night of listening to the recently-listed $ 1,000 album DONDA.

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