: MediaTakeOut.com just learned that clothing retailer Jones Apparel just purchased a 50% stake in Damon Dash's wife Rachel Roy's clothing line. According to a press release sent out by Dame the deal is worth $4 billion.
BWAHAHAHHAHHAHHAHAHAHHAHAHAHAHA
OK ... Now that we got that out of the way. Congrats to Rachel Roy and Dame for still cutting business deals. Albeit - not $4 billion ones ....
Actually MTO your wrong the whole deal is worth about that. The same peole that make Anne Klein bought her line. Stop hating on Dame of if it were not for him yall would never gave heard of Jay-Z, he would still have been Jazz's side kick or in original Flavas. Dame is a very smart brother, he has a lot of respect in the industry from the higher ups. He has no problem getting a meeting with anyone. He was the boss when the ROC was getting that paper. Fred dont hate him cause he does his thing.
First of all Versace profits way over 4 billion a quarter and they would not sell there brand to a manufactuer. Black people need to read a business book or two before you post. Also, that number is not set in stone it is over time, if the line does not sell for the contract length then she will not see that money. Just because you dont see him in the lime light dont mean he aint making power moves. Get a grip people.
NEW YORK, June 12 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc. (NYSE: JNY) ("Jones" or the "Company") today announced that it has formed a joint venture with Rachel Roy, Damon Dash and TSM Capital, LLC to develop, market and license the New York-based fashion brand, Rachel Roy. Under the terms of the agreement, Jones owns 50% of the joint venture interest. The remaining interest is owned by the two founders, Rachel Roy and Damon Dash, as well as TSM Capital which acquired a minority stake in the business last November. Jones will assume operations of the existing designer collection business under license with the new joint venture.
The line is currently available in premier luxury department and select specialty stores in the United States, including Bergdorf Goodman, Neiman Marcus, Nordstrom and Saks, and internationally in the United Kingdom, Hong Kong, the United Arab Emirates, Kuwait, South Korea, Canada, Turkey and Indonesia
Jones owns 50 percent of the interest in the venture, formed with Rachel Roy, Damon Dash and TSM Capital LLC.
Financial terms were not disclosed.
I DON'T CARE WHO SHE IS- SHE AIN'T GOT *** ON AALIYAH.. AALIYAH IS MORE WOMAN THAN SHE WOULD EVER BE.. DAME- I KNOW YOU HAD TO MOVE ON.. BUT YOU FORGOT ABOUT MY GIRL AND GOT MARRIED THAT QUICK.. AALIYAH DANA HAUGHTON RIP 1979-2001.. I MISS YOU!! ADD YA BOI- myspace.com/arrogant_boi AALIYAH'S NUMBER ONE FAN