R100m sneaker deal? Where did Cassper’s Drip deal figure come from?

 A deal about legacy and “more than just about the shoe”.

It was announced on Tuesday that rapper Cassper Nyovest (Refiloe Phoolo) and Drip sneakers had sealed a big deal. A R100 million deal to be exact.

The partnership was announced in Johannesburg, in a video posted by Cassper, showed him with Drip founder Lekau Sehoana. They inked the deal on top of the Leonard building in Sandton. Drip said the deal includes a series of products under its new wing, The Root of Fame with Cassper.

“This partnership goes beyond music and sneakers, it’s a showcase of Black excellence through the power of collaboration,” they said.

Understanding Cassper’s R100 million Drip deal

Fellow hip hop star who arranded the announcement Slikour, said the deal between Drip Footwear and Family Tree (Cassper’s music label) was for R100 million.

Many questions about how this valuation was made began to be asked on social media.

If the sneaker brand is actually worth R100 million, what does the deal entail, is this an investment, partnership or endorsement?

Slikour On Life reported the figure, adding that Cassper invited his accountant to the “special occasion”. No further details have been given by both parties. The Citizen  reached out for further comment and is waiting for a response.

This didn’t stop tweeps from having their say on what they thought the nitty gritties of the deal were.