Hip-Hop entrepreneur and mogul, Jay-Z, recently sold his name brand ROCAWEAR. The company is known for producing iconic urban fashion (at unaffordable prices by the way). The company was sold to the Iconic Brand Group resposible for name brands such as Joe boxer, Mudd and Candies etc. He allegedly sold the brand for a whopping $204 million in CASH.
Jay-Z, formally known as Shawn Carter, will
continue to have creative direction of the line. He and the Iconic Brand group have a new luxury line in the work; which will be known as The Sean Carter Collection which is expected to debut in 2008.
This merger shows the power that entertainers in the rap industry can have on pop culture. This is one of the biggest deals that the Iconic Group has settled.
1 comment:
I wonder what this will do to the quality of the Rockaware brand. I mean, would you still want to pay $50 for a shirt that you know is now being produced by the same brand that sells its main line in K-Mart (Joe Boxer). I'm just really glad that Jay-Z is staying involved in the designing aspect.
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