AFRICANGLOBE – Kanye West is taking over not only the music charts, but also the world of footwear. His Yeezy sneaker label, a partnership with sportswear giant Adidas, is reportedly worth a billion dollar and is expected to grow to $1.5 billion in sales in 2019, according to Forbes.
In 2013, West started his partnership with Germany-based company Adidas. His decision to leave Nike, where he first launched Yeezy in 2009, and to exercise his creative and entrepreneurial freedom turned out great.
That time, Nike was reportedly not giving royalties to West or any other athletes. With Adidas, West gets a 15% royalty on wholesale, a marketing fee, and he also gets to completely own Yeezy, unlike Michael Jordan who earns 5% royalty from his partnership with Nike and doesn’t own his brand.
After 6 years, West and Adidas sets sights to top $1.5 billion in sales by the end of 2019. With its continued growth, sooner or later, it could achieve the 34-year old Air Jordan’s $3 billion worth.
“We’ve yet to see all of the beauty that would be manifested through this partnership. We’ve only experienced a small glimmer of light,” Kanye said in an interview with Forbes.
Follow the Yeezy brand on Instagram @YeezyBoosts