Celebrity Sightings In New York City - November 07, 2019

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Details about Kanye West’s partnership with Gap have emerged, following news the rapper is reportedly a billionaire six times over.

According to Bloomberg, the collaboration between Yeezy and Gap may be valued at nearly $1 billion as well. From Bloomberg:

“Yeezy, West’s sneaker and apparel business with Adidas AG and Gap Inc., is valued at $3.2 billion to $4.7 billion by UBS Group AG, according to a private document reviewed by Bloomberg. The value of the new Gap tie-up, which will hit stores this summer, could be worth as much as $970 million of that total, the bank estimated.”

The site goes on to note Kanye’s sole ownership of the Yeezy brand and particulars of his dealings with Gap and Adidas…

“The bank document reveals the ambitions of an alliance that hopes to emulate the success of the Adidas partnership. West, who retains sole ownership and creative control of the Yeezy brand, signed a 10-year agreement last year to design and sell clothes for men, women and kids under the Yeezy Gap label. (The arrangement excludes footwear; Yeezy’s partnership with Adidas is in place until 2026).”

This week, People reported ‘Ye is worth $6.6 million, partly because of Yeezy. Stay tuned as new information surfaces.