In 1999, Jay-Z co-founded the urban clothing brand Rocawear with Roc-A-Fella Records partners Damon Dash and Kareem "Biggs" Burke.  Rocawear boasts annual retail sales of over $700 million.
In 2005, Jay-Z bought out Rocawear co-founder Damon Dash for an estimated $30 million.  In 2007, Jay-Z entered into a deal to sell Rocawear for $204 million in cash to the Iconix Brand Group, a company that licenses and markets such popular brands as Candies, Joe Boxer, Mudd, London Fog, and Ocean Pacific.  This is the largest acquisition that Iconix Brand Group has ever had.  The deal could also net Jay-Z $35 million in Iconix stock.
He will continue to be in charge of all product development, marketing, and licensing for Rocawear.  He will retain his stake in the operating company of the Rocawear men's apparel line.  Iconix and Jay-Z have also reached a deal to form a new brand management/licensing company that will debut a new luxury brand, entitled The Shawn Carter Collection.  This line is due in stores in 2008.

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