Page 49 - Forbes - Asia (October 2019)
P. 49
Kanye sits in a parking lot in a circle of the shoes he created.
celation. His first appearance after? A pilgrimage to Trump West, however, had always insisted on maintaining owner-
Tower, where he posed with the president-elect (and turned ship of his brand. And when Adidas executives caught wind
off a lot of his core audience). of West’s dissatisfaction, they invited him to Germany and
His career, however, has proved antic-proof. And he has he signed in 2013. Later, with the help of Scooter Braun, who
channeled his intensity profitably, particularly when it comes started a stint comanaging West in 2016, they created what
to sneakers. As sales blossomed at Nike, particularly after the appears to be an unprecented deal: a 15% royalty on whole-
Air Yeezy II release in 2012, West felt that the company was sale, according to sources familiar with the deal, plus a mar-
JAMEL TOPPIN FOR FORBES first shoe to have the same level of impact as an Air Jordan, royalties closer to 5%, though he doesn’t own his brand.
keting fee. For comparison, Michael Jordan is thought to get
treating him like just another celebrity dabbler. “It was the
and I wanted to do more,” West says. “And at that time Nike
In 2015, West debuted his first “Yeezy Season,” a show-
case for his clothing and sneakers. The next year he leveraged
refused to give celebrities royalties on their shoes.” (Nike de-
his new album to create a launch party for both sneakers
clined to comment for this story; two other sources familiar
and song, at a sold-out Madison Square Garden. His biggest
with the arrangement also say he wasn’t being paid royalties.)
2005 2007
Nominated for Mother Donda
ten Grammys, dies due to
takes home 2006 complications
three, including from cosmetic
Best Rap Joins U2’s surgery.
Album. Vertigo Tour as
its opening act.
OCTOBER 2019 FORBES ASIA | 47
