We knew it wouldn't be too much longer before Jay-Z joined the hip-hop fragrance deal fray.
Like his longtime lover Beyonce Knowles, and his longtime ally Sean 'Diddy' Combs, the super-rich rap music mogul will get into the retail cosmetics business.
The BV Newswire has learned that Iconix Brand Group, Inc. – new owners of the Rocawear brand -- has entered into an exclusive global licensing agreement with beauty giant Elizabeth Arden for the development, marketing and distribution of men's and women's fragrance, cosmetics, and skincare products.
The debut fragrance is planned to launch in the fall of 2008."We are excited to partner with an industry giant such as Elizabeth Arden," Jay-Z (legally known as Shawn Carter) said. "The combination of their expertise in fragrance and our ability to affect popular culture will produce some incredible products and breathe excitement into the category."
"This is a significant step in the evolution of the Rocawear brand and a large long term growth opportunity," Iconix honcho Neil Cole added. "The excitement and advertising surrounding the launch next fall will make Rocawear more visible than it has ever been and benefit the entire brand franchise."
As previously reported by The BV Newswire, Iconix purchased the Rocawear brand in March of 2007 for nearly $250 million.
Rocawear, which is recognized as a leading lifestyle apparel brand, reportedly has retail sales of over $700 million, annually.
The line was founded by the hip-hop icon turned Def Jam Records president, and his former Roc-A-Fella Records partners Damon Dash and Kareem "Biggs' Burke in 1995.
Jay-Z has remained an integral part in the Rocawear -- heading up all product development, marketing and licensing for the brand.
Elizabeth Arden, which recently launched a fragrance line with best-selling pop diva Mariah Carey, brands itself as a "global prestige product company."
"The Rocawear name connects with the customer we want to attract," said Arden's CEO and Chairman E. Scott Beattie. "Adding Rocawear to our lineup of lifestyle fragrance brands allows us to further diversify our multi-dimensional brand portfolio and expand our reach to a young, modern consumer."
Another wake to make money so I'm not mad at him for that
