The day before baby Blue Ivy Carter entered the world, 28 staff members from Jay-Z's urban brand Rocawear were being led out the door. According to the New York Post, 28 staff members were laid off from its men's and boy's apparel division on January 6 citing "economic reasons" in their filings with the New York State Department of Labor.
Jay-Z and producer Damon Dash created the clothing label in 1999, but Jay-Z sold the company in 2007 to Iconix Group, a licensing company, for $204 million. Although he maintained an interest in the company, his contractual obligations have since expired and he's backed off promoting the brand as hard as he used to.
"It’s kind of like he’s given up on the brand," a source said.
He did cause some controversy late last year when it was announced that no proceeds from sales of Rocawear's "Occupy All Streets" shirts would go towards the Occupy Wall Street protests, the inspiration behind the T-shirt.
"Jay-Z doesn't do anything without getting paid a lot of money — a lot more than Rocawear is generating," another source added.
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