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Jossidu (m)
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More Info
« #2 on: March 09, 2007, 06:24 PM » |
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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 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 lifestyleThe rapper will retain his stake in the operating company the manufactures all of the Rocawear men's apparel line, and the mogul's two partners, Alex Bize and Norton Cher, will continue to run the manufacturing company.
THAT IS AS MUCH INFO I COULD GET
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