The iconic hip-hop clothing brand may need to occupy a bank soon. Citing “economic reasons” on documents filed with the New York State Department of Labor, Jay-Z‘s former apparel line (with Dame Dash) fired 28 of its 56 employees. This comes as a shock since the brand has been thriving since ’99 and vowed to continuously re-imagine the brand, even tapping Melanie Fiona, Trey Songz, Naomi Campbell, Victoria Beckham and Zoe Saldana to appear in ad campaigns.
The company was sold to Iconix for $204 million in 2007, but the hip-hop mogul remained a large presence until recently, a source tells the NY Post. His contractual agreement to promote the threads has expired, and he no longer feels a need to big-up his once upon a time “baby.” Jay has other things to tend to, nonetheless. With the recent re-opening of his renovated sports bar, the 40/40 Club, and a new baby girl, Blue Ivy, the new father has his hands full.
So what’s this mean for Rocawear?
Ronnie DeMichael, the clothing line’s operating chief, and Iconix didn’t respond. We just hope the “That’s Rocawear” campaign will continue to breathe new life into the brand.
What do you think will happen to Rocawear?