Kanye West never really stops being in the news. This time, however, it’s nothing to do with music or some alleged beef. One of his non-music hits is making waves in a massive way, and nothing seems to be stopping it.
Yes, Kanye is one of the most popular music stars in the world. He has a catalog of albums that will make pretty much anyone jealous. However, his Yeezy sneaker venture, which he partnered with adidas to develop, has made him a retail behemoth.
Earlier this week, Forbes published an article revealing that the Yeezy sneaker line is now worth a staggering $1 billion.
Kaye’s sneaker exploits started in 2009, when he partnered with Nike on the first line of Yeezy shoes. However, he kiboshed the deal in 2013 and signed with Adidas instead. At the time, he claimed that his Nike Air Yeezy II had become a cultural phenom, but he wanted more.
He also reportedly wanted royalties on his Nike shoes (essentially, a portion of the net revenues from the sneaker sales), and Nike wasn’t having that. So, he left.
The adidas deal was a breakthrough for West. The German company gave him up to 15 percent royalties, as well as marketing fees.
Just like most of his successes, the success of this line has come from marketing. Kanye enjoys a massive following, and he’s taken the effort to market his wears and sneakers across platforms. Through his music, videos, and multiple appearances, the Yeezy sneakers have been a constant
The result, as expected, is massive.
Fast forward 6 years, and both adidas and West have made bank on this deal. The Yeezy venture is expected to top $1.5 billion in 2019, and more growth is set beyond.
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