Kanye launches new business

Kanye West is launching an accessories line.

According to The Sun newspaper, the controversial 47-year-old rapper has registered a new trademark for a brand called Droam, which "covers everything, from umbrellas and whips to shoulder and tote bags".

There are also reportedly plans for a Droam gym range.

Meanwhile, it was recently revealed that Kanye has sold his Malibu mansion for a US$36-million loss.

Kanye offloaded the oceanfront property for US$21 million (approximately J$3.3 billion) just three years after buying it for US$57.3 million (approximately J$9 billion).

After buying the Tadao Ando-designed property, Kanye completed gutted it in anticipation of extensive renovations.

However, he never finished the project and it has now been snapped up by California-based real estate crowdfunding firm Belwood Investments, according to The Real Deal.

Belwood founder and owner Steven 'Bo' Belmont said in a press release: "We are incredibly excited about the acquisition of this property.

"This is not just a phenomenal real estate investment; it is an opportunity to revitalise and preserve an architectural gem by the renowned Tadao Ando, ensuring it remains a jewel of Malibu. This acquisition exemplifies Belwood Investments' commitment to transforming properties with historical and architectural significance, while delivering exceptional returns for our investors."