Jay-Z sold the rights to the Rocawear brand to Iconix Brand Group for $204 million. Jay-Z will retain his stake in the company and will continue to oversee the marketing, licensing, and product development.
If you were a fan of hip hop in the late 90s and early to mid-noughties, then Rocawear will need no introduction. Items from the fashion label, co-founded by rapper Jay-Z, were as common a sight in music videos as groups of scantily-clad ladies popping bottles of Cristal in a hot tub.
Alongside fellow Roc-A-Fella Records founder Damon Dash, Jay-Z set about bringing the proposal of a new clothing range, fronted by Jay-Z and other rappers signed to his label. It was a brand that was deemed an uninvestable venture by other big fashion brands but what they saw as a miss, Jay-Z saw as a golden opportunity.
Watch how things went down at Rocafella Records and the Rocawear clothing brand.
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