Back in June 2020, Kanye West announced that his brand Yeezy landed a deal with Gap. While he didn’t share too many details about the joint venture, some specifics about the partnership were revealed by The New York Times. According to “a person familiar with the negotiations, who was not authorized to speak publicly,” the deal holds a term of ten years, with the option to renew after five. Almost nine months later, Yeezy and Gap’s partnership seems to be a successful endeavor.
Bloomberg reports that the collaboration between the two brands, which is set to be available in stores later this year, could be valued as high as $970 million. The publication also reported that Yeezy itself is valued between $3.2 billion to $4.7 billion, thanks to estimates from UBS Group. West also has $122 million in cash and stock, $110 million from his music catalog, and $1.7 billion in other assets, including Kim Kardashian’s SKIMS brand. If the reported numbers are correct, it would bump West’s net worth to somewhere between the range of $5.1 billion and $6.6 billion — a sharp increase from the $1.3 billion that Forbes reported last year.
In other news, last week collaborator Cyhi The Prynce said that West got back to work on his upcoming album Donda, which was originally set to arrive last summer.