An attorney for Kanye West, who now goes by Ye, confirmed to The Associated Press late last week that a letter terminating the agreement between the clothing retailer Gap and West’s brand, Yeezy, was submitted to Gap on Thursday (Sept. 15).
Less than 48 hours after the announcement, reports started to circulate that the mega-billionaire was in contact with smaller, black-owned shoe companies about possible collaborations to combine his clothes and shoe lines.
By making such a risky economic decision, West would increase his investment in the fashion sector while raising visibility for independent apparel firms.
An unnamed company owner said, “I suppose he came at us because we are vanguards of the culture. “With all of his clout, sway, and reach, huge businesses desire the absolute opposite. It’s a big deal.
According to Bloomberg, who estimated his net worth at $6 billion in 2021, he was the richest Black American.
According to investment firm UBS, between $3.2 billion and $4.7 billion of West’s net worth comes from his affiliations with Gap and Adidas. Possible collaboration between West and smaller
Black-owned businesses would create a larger share of the fashion market for underrepresented corporations.
“If a deal of this proportion goes through and my company goes into partnership with Ye, there will be a tectonic shift,” says the unnamed source.
“This shift takes the power away from our oppressors and puts it back into hands of the people who are the gatekeepers of popular culture.”
According to industry insiders, West is seeking mergers with all Black-owned footwear companies.
Sources also say celebrities such as Dave Chappelle, Magic Johnson and former track and field athlete/ professional football player John Carlos (archived for his rebellious Black Power salute on the podium at the 1968 Summer Olympics) are among dignitaries who will reportedly bring their influence to this project.
Companies vying for impending ventures with West include Atlanta-based Nagast Footwear.
With the launch of its 2015 shoe collection, Nagast made history as the first firm to honor the contributions of significant Black figures like Marcus Garvey and Nat Turner.
The only Black woman-owned fulfillment facility in the US, Everlasting Love Fulfillment, is one of many other black-owned companies that might be incorporated into potential enterprises.
The insider claims that Kanye is 10, 20, or more years ahead of everyone and that he is gazing at us.