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TigerLand
Moderator
Joined: 24 Dec 2005
Posts: 6333
Location: East Belfast,Northern Ireland
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 Posted: Tue, 06 Mar, 2007 22:24 Post subject: Jay-Z Sells Clothing Company Rocawear For $204 Million |
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From the good people over at AllHipHop.Com...
*Rapper/mogul Shawn "Jay-Z" Carter has entered into a deal to sell clothing company Rocawear for $204 million in cash to the Iconix Brand Group, a company that licenses and markets such popular brands as Candies, Joe Boxer, Mudd, London Fog, Ocean Pacific and others. The deal, which was announced today, (Mar. 6) could also net Jay-Z $35 million in Iconix stock, if the Rocawear brand meets certain performance requirements over the next three-five years. "Iconix is pioneering a new brand management model and by combining Rocawear with their platform, my team and I can focus on our strengths in design and lifestyle
marketing." Jay-Z said. Jay-Z will continue to be in charge of all product development, marketing and licensing for Rocawear, which boasts annual retail sales of over $700 million. Iconix and Jay-Z have also reached a deal to form a new brand management/licensing company that will debut a new luxury brand titled The Shawn Carter Collection, which is due in stores in 2008.*
 Thats some money
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Ria
Just popping in
Joined: 02 Oct 2007
Posts: 12
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| Posted: Thu, 18 Oct, 2007 15:51 Post subject: |
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| Business man...gata respect that |
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