It looks like Rocawear is sinking and Jay-Z has jumped ship. The brand that Jay-Z and Damon Dash founded in 1999 is on the brink of Chapter 11 bankruptcy. Damon Dash sold his 25% stake in Rocawear in 2005 and in 2007, Jay-Z sold Rocawear for $204 million dollars and his stake in the company has expired and so has Jay-Z's loyalty.
According to the NY Post, half of the Rocawear staff has been fired and the company that bought Rocawear in 2007, has gone out of business. Jay-Z has refused to promote the brand and sales have suffered.
I'm sure that Jay-Z is like "not my problem." He no longer has stake in the company and he frankly doesn't need the tiny income that Rocawear is generating. Do people still wear Rocawear? I see it, along with House of Dereon, in low end boutiques like Cititrends and Marshalls. Yeah, Rocawear isn't that brand anymore and I don't blame Jay-Z for moving on to other interests.
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