Grammy nominated recording artist Lil Yachty has signed a brand sponsorship deal that will see him cast as the Creative Designer for fashion brand Nautica. In his new role, Lil Yachty will function with Nautica to design and style a capsule collection as nicely as be featured in digital and social media marketing campaigns.
Lil Yachty, a self-proclaimed Nautica fan derived his name from his higher college clique who were identified as the Yacht Club, based on the nautical motiff featured on Nautica’s apparel.
Yachty, 19, has virtually two million followers on Instagram, and his videos on YouTube have over 127 million views. D.R.A.M.’s song, “Broccoli” featuring Lil Yachty reached number 1 on the Spotify chart.
The economic terms of the agreement were not disclosed.
The boss of 1 of the private equity group that invested in the Sony-led acquisition of EMI Music Publishing in 2012 is caught up in a significant corruption scandal involving the Malaysian government’s sovereign wealth fund.
American authorities have accused numerous folks linked to Malaysia’s state-owned investment fund – including the country’s Prime Minister Najib Razak – of siphoning off over $ three.five billion of monies for their personal signifies, including business ventures and lavish purchases like art and jewelery. The US is now in search of to seize assets in the region of $ 1 billion linked to the alleged fraud.
One particular of the key executives accused of involvement is Malaysian businessman Taek Jho Low – normally known as Jho Low – who has no formal role at the sovereign wealth fund, but who is allegedly deeply involved in its operations even though that’s something he denies.
Low’s private equity organization Jynwel Capital was one of the automobiles that helped fund Sony’s $ 2.2 billion acquisition of EMI Music Publishing in 2012 and, according to his official biography, his involvement in that deal resulted in him becoming Non-Executive Chairman of the music publisher in Asia. But according to the Americans, the $ 106 million Low invested in the EMI songs organization was misappropriated from Malaysia’s state fund.
A number of investors joined Sony and its long-term business companion, the Michael Jackson Estate, to obtain the songs side of EMI soon after Citigroup repossessed the British music major and put it up for sale in 2011. Though EMI Music Publishing technically remains a standalone company, with a different ownership structure, it operates as if it was a unit of Sony/ATV, Sony’s Music publisher.
The ownership of Sony/ATV is at present below the spotlight, of course, due to the fact Sony is attempting to buy the Michael Jackson estate which would give Sony Corp comprehensive ownership of the company, even though that wouldn’t influence the ownership structure of EMI Music Publishing.