Multimillionaire rap mogul Jay Z is being sued by a wholesale company which claims the “business, man” owes them $450,000 for a shipment of clothing.
According to court documents obtained by the NY Post, Rocawear ordered a shipment of clothing from iSource NYC, which sent the clothing to New York from Pakistan last year.
The urban-style clothing items were “specially ordered [with] the ‘Rocawear’ logo imprinted on [them],” iSource NYC complained in the lawsuit.
Rocawear paid half of the roughly $1 million bill but ignored repeated requests for the balance due, according to the NY Post. Additionally, “defendant never returned the ROC goods to iSource,” stated the wholesale company’s lawyers.
Jay Z sold Rocawear to Iconix Brand Group for $204 million in 2007, but he remained in charge of marketing, licensing and product development, according to a report on Allhiphop.com.
In 2010, Jay Z inked a deal with Bosideng International Holdings to bring Rocawear to China. The aggressive business plan included opening 300 Rocawear stores across China.
The surprise in all of this is that people still buy Rocawear.
Thanks to loyal reader Ernest O. for the tip.
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