Jay Z Wins Big In Barneys New York Deal
It seems that Jay Z has emerged victorious – at least with respect to his share of the retail revenue – following a dust-up over racial profiling at Barneys New York that had consumers and fans calling for the hip-hop star to pull out of a deal to launch a holiday collection with the luxury retailer. Billboard detailed the estimated haul in a recent article:
A source close to Barneys told New York Daily News that “figures were being tallied on Friday, the last day of sales, but profits had exceeded the million-dollar mark.” Retail prices for items from the line — which featured designs by Moncler, Balenciaga, Balmain, The Elder Statesman and Rick Owens — ranged from $70 to a whopping $58,000.
Following the highly-publicized racial profiling incident, Barneys New York agreed to a deal that promised funds made from the sale of goods in the collection to the Shawn Carter Foundation. The funds will be put toward fulfilling the foundation’s mission of assisting low-income students with college expenses.