Let me start out by saying this article might be completely bias because I am a huge fan of Jay-Z. For those of you who don't know, Jay-Z is an American hip hop star. It was announced that he has sold the rights to his clothing line Rocawear to Iconix Branding Group. It is being reported that the deal will pay Jay-Z $200 million upfront.
Although it is sad to hear that another black company has been sold, it is good to hear that an African American entrepreneur is making major moves in any industry.
So congratulations are in order!!! And if you are reading this and you have an opening on your team. HIT ME UP!!!!!!!!!
You can read more here.
Although it is sad to hear that another black company has been sold, it is good to hear that an African American entrepreneur is making major moves in any industry.
So congratulations are in order!!! And if you are reading this and you have an opening on your team. HIT ME UP!!!!!!!!!
You can read more here.
2 comments:
I think Jay-Z is a sell out. He's already rich, so it's not like he's in dire need of 200 million. Why sell his urban-targeted company to an ALREADY rich white CEO. I guess he's copying every other black CEO that takes their company and sells it to a white distributor.
I guess that's why we (African-Americans) can never get ahead. Oh well..
I understand the issue with selling a black business to a white branding company can be controversial. But #1, sometimes selling a company is simply the best business move a person can make, #2, I think we should give Mr. Carter the benefit of the doubt for now. This deal gives him the capital to invest in other opportunites. So I think we should wait to see what projects he invests in before passing judgement.
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