Kanye West has been a fashion icon for years. But now that he is facing a multimillion-dollar financial crisis, will he still be able to keep up appearances? The rapper’s Yeezy clothing line is struggling and his finances are in jeopardy — despite making millions from album sales and touring over the past two decades. A source who worked with West told the media that some within his orbit are worried about him losing it all soon if things don’t turn around fast enough.
According to sources who spoke with the outlet, Kanye West is $53 million in debt with his Yeezy fashion brand and has been unable to pay employees on time. He also reportedly owes rent for several office spaces that he uses for his company. The publication also claims that Adidas is concerned about its partnership with Yeezy because of this news.
Kanye’s sister-in-law Kylie Jenner signed a new deal with Adidas for $1 billion last month and recently became the youngest self-made billionaire ever at age 21 (she was born in 1997).
Kanye West Worried About Money?
The fashion line, which was valued at $1.5 billion after West signed a deal with Adidas in 2016, is expected to lose $30 million in 2018 — and there are reported issues between the shoe company and West’s team.
Adidas doesn’t seem happy with the sales of Yeezy, likely because its star designer has been AWOL from social media for some time now. The label used to make headlines every time it dropped new styles or announced a collaboration with another celebrity; but those days seem to be over — especially since Adidas made its own big announcement this week by signing Kim Kardashian as the face of their Skechers brand.
While West is reportedly not pleased with his relationship with Adidas (and while he may still be feeling aggrieved over Yeezy getting knocked off), it’s unclear how much money he stands to lose if they decide not to renew their partnership after 2022 expires.
Kylie Jenner, who is the sister of Kim Kardashian and a social media influencer, has reportedly signed a $1 billion deal with Adidas.
Kanye West is also an influencer. He’s married to Kim Kardashian, so it would be natural for fans to expect him to follow in Kylie Jenner’s footsteps. However, it seems that Kanye West doesn’t have a deal like Kylie Jenner’s and may need to find some new sources of income soon if he wants to maintain his lifestyle.
