Jay Z’s Barneys Collaboration Collects $1 Million In Profit
Despite nationwide outcry and negative publicity stemming from a pair local racial profiling lawsuits, Jay Z and Barneys made $1 million dollars in profits from their capsule collection.
Controversy surfaced after many believed Hov’s decision to continue the limited luxury line with the company represented him choosing sides with the store rather than sticking up for social equality.
At the time, the cultural icon explained his decision making with the following statement: “This money is going to help individuals facing socio-economic hardships to help further their education at institutions of higher learning.”
100% percent of the business endeavor’s earnings went towards The Shawn Carter Foundation’s efforts to offer less privileged honor-roll high school students an opportunity to further their education by covering college tuition costs. Originally, the organization was entitled to only 25% of the surplus, but the MCHG rapper and the fashion franchise agreed on new terms to give the full financial benefits to the foundation.