By The Hip Hop Writer
Hip Hop Vibe Staff Writer
When the clothing line first debuted, Rocawear was ahead of its time. Both Damon Dash and Jay-Z were ahead of the curve when it came to launching their clothing line. As buzz for Jay-Z picked up, a lot of people were buying the clothing he promoted, for free, in his music, but when it came down to cutting a deal, he was turned down.
Damon Dash and Jay-Z brushed themselves off and they got to work on Rocawear and it became a multimillion dollar industry. Eventually, Damon Dash relinquished his rights to the clothing line when he left Roc-A-Fella. Jay-Z would sell his ownership stake in the company in 2007, staying on as a consultant.
Business moves like these have led to Jay-Z amassing a net worth of over $500 million, but Rocawear is floundering. Owing $1 million to the wholesale company, iSource NYC, only a little over half has been paid to the company. Now, Rocawear owes an additional $450,000 to the company.
