Jay-Z takes Roca Wear to Asia
Rap superstar JAY-Z is taking his Rocawear clothing brand to the Far East – he’s inked a new manufacturing and distribution deal in China.
The Big Pimpin’ hitmaker, real name Shawn Carter, launched the line in 1999 and went on to sell the rights to the collection to Iconix Brand Group in 2007 for a whopping $204 million.
He retained his stake in the company and continues to oversee the development and marketing of Rocawear – and now he’s set to cash in on the Chinese market after signing a contract with Bosideng International Holdings.
The deal will see Bosideng produce men’s and women’s Rocawear products from spring 2010 with plans to open 300 of the designer stores across the country within the next three years.
Jay-Z says in a statement, "When Iconix purchased the Rocawear trademark two years ago, Neil Cole and I made a commitment to building Rocawear into a global lifestyle brand.
"Our expansion into China is a validation of our joint efforts to bring an authentic interpretation of American fashion to young people around the world."
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Mo money…mo money…mo money!
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