KANYE WEST MIGHT GIVE YOU A REASON TO TAKE A SECOND LOOK AT YOUR BUSINESS TEAM
Kanye West may pass for being controversial but he sure has good business sense. Expertise is important in just about every area of life and in business, it is of great essence. In 2009, West interned, alongside Virgil Abloh, in the Rome headquarters of Fendi. This contact fostered a relationship that led him to recruit Abloh as his creative consultant to Kanye West and his creative “think tank” Donda, a role Abloh has held for the past 14 years, though he declines to explain how this happened and avoids going into detail on his work with West, which encompasses tour merchandise, album covers and set design, and certainly helped to catapult his name into the global consciousness.
One of West’s biggest strengths is his method of rolling out products in limited numbers. These build hype and sell out quickly. One hour after the Boost 350 sneakers went on sale for $200, for example, they were sold out in stores and online. This indirectly helps to boost the rate of demand of his sneaker brand.
He brags “I am currently the single highest paid person in footwear. That means I make more money on shoes than Michael Jordan.” Though this may not be exactly true but he is his own forefront marketer. According to Lyst, the hype from his social media campaign provoked a 45% spike in search demand for Yeezy on its platform in the week after it appeared versus the week before.
Another business strategy he uses to his advantage is his quest to employ the most genius-level talents and creating products at an affordable price. This he revealed after he had hired Deborah Palmer Keiser as its Chief Supply Chain Officer. You need a proactive and innovative team for your business.
there's been a lot of fake news so I just wanted to give you the facts. Yeezy will become the biggest apparel company in human history by working with the most genius level talents and creating product at an affordable price. I hired the head of supply chain from the Gap.
— KANYE WEST (@kanyewest) April 25, 2018