It was announced that Jay-Z will be selling Rocawear to Iconix Brand AGroup for a cool $204 million–in cash!
This is the largest acquisition Iconix has made and Rocawear is a brand that is increasing in market share and has extraordinary potential for growth. This acquisition will be transformative for Iconix in terms of its scale, the diversification it brings to our portfolio of brands as well as having someone as talented as Jay-Z joining our company and the many synergies that could bring.
I’m not sure what everyone’s take on Rocawear is, but all I have to say that $204 million seems like a bit too much, if you know what I mean.
Source: Associated Press
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