Posted by Bossip Staff
Even though we are in a recession, Rocawear, made out like a fat rat this quarter:
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. Cole says, the two brands were the “two biggest standouts in the quarter.”
Camel has been hustling for a while and getting rid of Dame was probably the best move he has made in the last 10 yrs. Him and Bey have a hustle going that can not be knocked.
For the whole article, hit up Livesteez.
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