Kanye West Files Yeezy Trademark for Makeup, Skin and Hair Care Products
The Yeezy designer may be preparing to break into the beauty business
It looks like Kanye West is following in his famous family's footsteps and preparing to launch his own beauty brand in the future.
The 43-year-old fashion designer, who dropped his first Yeezy collection in 2015, appears to be looking to expand his empire. On June 2, West filed a "Yeezy" trademark with the United States Patent and Trademark Office which listed a variety of beauty products.
In the filing, West's intellectual property holding company Mascotte Holdings Inc., registered the trademark to cover everything from cosmetics like lipstick, concealer and mascara to skincare like lotion, toner, face masks and exfoliants. It also includes a variety of fragrance products, bath and body products and hair care such as shampoo, conditioner, gel and dye.
West is surrounded by a family of successful beauty moguls — wife Kim Kardashian West said her KKW Beauty and KKW Fragrance sales "doubled in a year" after launching and sister-in-law Kylie Jenner sold a 51% stake in her Kylie Cosmetics and Kylie Skin business to beauty conglomerate Coty for $600 million in November 2019.
Despite the business magazine's analysis, West maintains that his net worth is higher, and reportedly texted Forbes, "It’s not a billion. It’s $3.3 billion since no one at Forbes knows how to count."
However, Forbes pointed out that "West’s aggressive $3 billion self-appraisal is clearly based on the idea that the business is infinitely portable. It’s not. Taking Yeezy away from Adidas seems almost prohibitively cumbersome, if not contractually impossible. A safer way to value it: as a royalty stream, like music publishing or film residuals."
The outlet estimated that West receives about a 11 percent royalty of Yeezy revenue from Adidas, which produces and distributes the trendy sneakers.
In the magazine's annual World's Highest-Paid Celebrities ranking released in June, Forbes listed West with the second highest earnings (just behind sister-in-law Kylie) by bringing in $170 million, much of which was brought in from his Yeezy sneaker partnership with Adidas.