Jay-Z sells Roc-A-Wear for a reported $204 million in cash
March 6, 2007 by Staff
“Jay-Z has reached an agreement to sell his Roc-A-Wear clothing line to the Iconix Brand Group for a reported $204 million in cash, the companies announced Tuesday. As a part of the deal — which could be worth up to $400 million through sales incentives — the Def Jam president and rapper will retain his role in product development and also enter into a new deal to launch the Shawn Carter Collection, an upscale luxury brand set to debut in 2008.”
Damon Dash sold Jay Z his stake in Rocawear for $30 million in 2003.This is a very nice profit for mr Shawn “Jay-Z” Carter.
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