Gap finally unveils the first product in its hotly anticipated collaboration with Kanye West's Yeezy brand: a $200 bright blue jacket

• Gap's first product created with Kanye West's Yeezy brand is here: a $200 blue jacket.
• Gap first said it would partner with Yeezy in June 2020. Since then, customers have been waiting.
• Gap said the collab had "big potential," but some analysts questioned how much it'll boost sales.

The Yeezy x Gap collection has finally come to life.

Gap unveiled its first product created in collaboration with rapper Kanye West's Yeezy brand on Instagram Tuesday: a $200 bright blue jacket, which is available to preorder online. West was seen wearing the jacket Los Angeles earlier this month.

It's been just over a year since Gap announced it would be partnering with West to launch a new apparel collection. The news sent Gap's stock price soaring as investors saw the collaboration as a way for the brand to regain relevance with young shoppers. But some analysts were skeptical as to how much of an impact the deal would have on its sales and whether the hype had been overblown.

In an earnings call earlier this year, Gap Inc's CEO Sonia Syngal said that partnerships of this kind would become an important part of the future of Gap. We "believe this to be a very big potential for us," she said.

Gap did not share the financial details of the deal but said that Yeezy would earn royalties and potential equity related to sales results through this "multi-year partnership."

Yeezy already has an ongoing partnership with Adidas. According to estimates from UBS, which were previously reported by Bloomberg, West's Yeezy partnerships with Gap and Adidas are valued between $3.2 billion to $4.7 billion. The Gap deal alone could be valued at $970 million, according to UBS.

A spokesperson did not immediately respond to Insider's request for comment on Tuesday.