Kanye West. Photo: Taylor Hill/FilmMagic
Entertainer Kanye West's sneaker company, Yeezy, was valued around $3 billion, according to a Bank of America document from 2019 reviewed by Bloomberg.
By the numbers: West was in debt four years ago after pouring money into the brand, which he maintains as sole owner. The valuation of "future royalties generated in the footwear category is estimated from $1.75 billion to $3 billion” in 2019, per the bank’s preliminary analysis prepared last September.
Yes, but: Bank of America valued the company before the coronavirus pandemic devastated the fashion industry and the broader economy.
- U.S. apparel, accessory and shoe sales for April are projected to fall 79% year over year, according to Forrester Research.