Saturday, November 8, 2008

Jay-Z's Rocawear Earns Huge Profit Despite Tough Economy

Though the economy is bad, its still very possible for Black-owned companies to be profitable. The hip-hop industry, for example, continues to flourish.

Bloggers at report:

In the midst of an economic turmoil, fashion lovers are still making their way into the stores to purchase some fly gear.

Hip-Hop apparel brand Rocawear has earned over $18.3 million dollars for the third quarter of 2008. The clothing line helped its parent company Iconix Brand Group post a better-than-expected quarterly profit, despite a sluggish economy and a tough U.S. retailing market.

Iconix bought Rocawear from Jay-Z in 2007 for $204 million dollars. According to Iconix CEO Neil Cole, Jay-Z’s direct involvement with Rocawear helped boost the company’s earnings, as did growing sales from the company’s London Fog brand of clothing.

Iconix also owns brands like Candie's, Joe Boxer, Starter and OP, and Rocawear. Rocawear also recently debuted its first fragrance, 9IX Rocawear, as reported by


  1. Jay-z is underrated as a business person. Rocawear is still a very strong brand.

  2. I definitely agree with Moretoblack's comment. There is a reason why Jay-Z is worth close to a half-a-billion dollars.