Kanye’s Yeezy x Gap Deal Reportedly Valued At Nearly $1 Billion

Faith
2 Min Read

According to reports, the collaboration between Kanye’s Yeezy and Gap, which is expected to arrive in stores later this year, could be valued as high as $970 million.

Yeezy is currently valued at $3.2 billion to $4.7 billion, estimates from UBS Group have revealed. According to the report, Kanye West also has $122 million in cash and stock, $110 million for his music catalog, and $1.7 billion in other assets including Kim Kardashian’s SKIMS brand.

If the above estimates are correct, this means that Kanye’s business ventures have a total estimated value of $5.1 billion to $6.6 billion.

In 2020, Forbes reported that Kanye had an estimated worth of $1.3 billion thanks to his Yeezy empire. That figure was disputed by Kanye, who said he was worth more than $3 billion. Later that year, during an episode of Nick Cannon’s Cannon’s Class, Kanye claimed his net worth was $5 billion after the Gap deal.

Despite partnering with Adidas for the Yeezy brand, Kanye retains complete ownership and control. He signed a 10-year agreement to design and sell clothes under the Yeezy Gap label last year, although the deal excludes footwear. The current Yeezy partnership with Adidas will last until 2026.

Read also: U.S, India Partner To Develop COVID-19 Vaccine

The latest figures show that Gap is expecting the Yeezy Gap line to bring in $150 million in sales in 2022, although the plan is to launch by this July. Gap believes the collaboration will become a billion-dollar brand within eight years and could bring in $1 billion by 2023.

“I spoke to Yeezy last night and he’s very, very focused on this incredible opportunity,” said Gap’s CEO Sonia Syngal when providing an update on the line earlier this month.

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By Faith
Journalist, Content creator, Enthusiastic personality with a flare for uniqueness and individuality
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