JAY-Z BUYS ARTFUL DODGER BRAND FOR $15 MILLION
Hip-hop mogul SHAWN ‘JAY-Z’ CARTER has signed a deal to buy British designer SCOTT LANGTON’s luxury clothing brand Artful Dodger - for $15 million (£7.5 million) cash.
The rap star completed the purchase together with his business partners Iconix Brand Group Inc. last week (ends09Nov07) under the company name Scion a joint venture between the two parties.
In a statement, Carter says, "Artful Dodger is an incredible brand with a lot of room for growth and Scott Langton is a visionary designer.
"They represent what’s next and new in fashion and we are glad to have both the brand and Scott as a part of our family." Iconix bought Jay-Z’s Roc-A-Wear Clothing label earlier this year (07) for $204 million (£102 million) in cash.
Movie & Entertainment News provided by World Entertainment News Network (www.wenn.com)
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