Kanye West’s clothing and sneaker brand Yeezy received a loan from federal government pandemic rescue fund worth between $ 2 and $ 5 million, helping it save 106 jobs, according to data released by the U.S. Treasury Department on Monday.
Yeezy, best known for his $ 250 sneakers, has just announced a major deal with Gap that will have the rap superstar design sweatshirts and t-shirts to be sold at the chain’s 1,100 stores worldwide. A Yeezy representative did not immediately respond to a request for comment.
This weekend, West announced on Twitter that he was running for president.
Some other well-known fashion and retail names whose business was hit by store closings across the country also received 1% of loans that can be forgiven if workers’ employment goals are met.
The list included high-end designers Oscar de la Renta and Vera Wang and suit maker Hickey Freeman, all of whom borrowed in the $ 2 million to $ 5 million range.
Untuckit, a T-shirt retailer with 85 locations, had two loans between $ 5 million and $ 10 million.
Iconix Brand Group, a publicly traded company that owns the Candie’s, Joe Boxer and Ed Hardy brands, received between $ 1 million and $ 2 million.
Retailers and manufacturers saw their revenues drop precipitously due to the closings, and were also left with a season of clothing they couldn’t sell.
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