Yeezy designs sneakers that are sold through a manufacturing and distribution arrangement with Adidas AG. Last month, it also announced a partnership with Gap Inc. that caused the shares to spike on optimism that the deal would help revive sales at the chain.
A spokesperson for Yeezy didn’t immediately reply to an email seeking comment. The Hollywood Reporter published details of Yeezy’s loan earlier Monday.
Bank of America Corp. valued West’s business last year at as much as $3 billion, according to a document reviewed by Bloomberg. The valuation was prepared in September, before the Covid-19 pandemic hurt sales of fashion goods. West has $200 million in other assets, according to an unaudited balance sheet provided by his accountant, including four houses in California and a ranch in Wyoming.
West announced on Twitter on Saturday night that he’s running for U.S. president.
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