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Author: Subject: BET, Phat Farm, NOW ROC-A-WEAR?????
luvmypeople
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td.gif posted on 3.9.2007 at 01:16 PM
BET, Phat Farm, NOW ROC-A-WEAR?????


I am heated that Jay-Z selling his clothing line for 204 mil to some kkkrackas! :wtf: When I first heard this I could not believe it!!!! First off it makes $700 mil per yr--why he would sell it for $204 is beyond me....

Then on top of that--why not keep this in the family???? If he had too much on his plate he could've trained his moma-sister-cousin--anybody to run it--he should've kept it in the family. I mean for real people--why do Black people never think of GENERATIONAL WEALTH?????

Do you think that the Hilton's will ever sell? Walmart? Johnson & Johnson? Hell naw!!! They know their kids will be eating off this for generations to come..... And they most def would not sell to any negroes....

This is why we always seem to miss the bus. Why do rich Black folk always sell to the kkkracka for money that WILL NOT last so that your 20th generation great grandchild is guaranteed wealth?

I just don't get it......




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[*] posted on 3.9.2007 at 02:14 PM


Black folk are still struggling to understand the idea of passing wealth on and keeping it in the family. What we see today is those who would be the beginning of a long history of a Black owned and operated business selling that business off to white folk because they lack faith in their people and their family and most of all, to take the money and run. Successful Black Businesses are rising up and only lasting a generation, never being passed down to the next generation thus the cycle continues. Inherited wealth makes up a great percentage of all wealth in this nation and around the world. Itís a sad commentary but it is also the truth, many of us approach entrepreneurship like it is the stock market, we want to invest our money and flip it to get as much back as we can and then get the hell out of there leaving nothing to be seen as a Black owned Brand or For Us By US. .



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[*] posted on 3.9.2007 at 02:35 PM


I'm glad you started this thread. When I heard he was selling his brand, I thought the exact same thing. And I agree with Faheem too.

My intention is to own a business and with that business, build an empire. It is silly for Blacks to sell what could be family wealth away. They are totally missing the boat. Totally.:ummm:




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luvmypeople
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[*] posted on 3.9.2007 at 03:42 PM


Exactly. They never think long term. They just think of the seemingly "Big Payoff" now and take the loot and never look back.... They should be thinking that this kkracka must see major potential in how much $$$$ he can make if he could get his hands on the company.

I just think that it is a bad move....

We have a lot of Rich Black People......

Name one who has REAL WEALTH.




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[*] posted on 3.9.2007 at 03:46 PM


Well, we must take into consideration that GREEN is GREEN and trumps all COLORS. Most people who have visions of owning a business have a goal of becoming filthy rich. Now, what Jay and others have done is simply a part of the larger business world. Most business owners jump at the chance to sell their businesses because, that is what the intial vision was. Grow the company and cash out.
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[*] posted on 3.9.2007 at 04:09 PM


True....

Kkkrackas have been owning and selling shiit since the beginning of time, so the fact that they still do this is not my concern. No disrespect. I think the business should be a little bit more precious and protected when it is a Black owned company making MILLIONS.


I also believe that Black People should have a different agenda when it comes to selling a multi-million dollar company, considering what it takes for US to truly "own" something. Kkkrackas don't go through the same blood, sweat, and tears that we as a people go through for real riches....or for meager dough, for that matter...

It would be nice to have a generation of Black kids who are born wealthy because of Daddy or Mommy's greater business sense.

I just wish they would think outside the box.
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[*] posted on 3.9.2007 at 04:12 PM


I intend to own a business and my final outcome is not payola. I do not intend to sell to the highest bidder...I'm trying to build and build and build my empire.

People are just short-sighted.




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[*] posted on 3.9.2007 at 06:00 PM


Quote:
Originally posted by tafui
I intend to own a business and my final outcome is not payola. I do not intend to sell to the highest bidder...I'm trying to build and build and build my empire.

People are just short-sighted.


I agree. Don't get me wrong, it is definitely about cake. HOWEVER, like Tafui said, we are short sighted. We clearly don't understand the necessity of black legacy. We think short term and not long term.




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[*] posted on 3.9.2007 at 06:27 PM


I'm not disagreeing with anyone. I am just making a point that Most business people are looking for the $ amount. Also, Tafui from what I have gathered (from your posts) the business that you intend on operating is geared toward education. So, I don't think it would be wise to put a price on it. I would assume it dimishes the goal. But we are talking about Businesses that weren't very PROBlack to begin with. Also, let's see what these Black business people do with their earnings. At least BOB from BET bought into an NBA franchise. So, at least in his case Bob didn't just sell BET and retire. I just say let's see.
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[*] posted on 3.9.2007 at 08:35 PM


Smells of conspiracy.

Jay-Z is really business minded and I am under the impression that he does not like white people like that. I wouldn't put it passed a kracka to threaten his life or something. The police surely won't care--I mean, hes a rapper, hes Black.
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[*] posted on 3.9.2007 at 08:37 PM


Thanks for the heads up though.

I was starting to get into Rocawear. Really cute stuff.

Now, no point in buying it.
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[*] posted on 3.9.2007 at 08:39 PM


Quote:
Originally posted by narcissism
Smells of conspiracy.

Jay-Z is really business minded and I am under the impression that he does not like white people like that. I wouldn't put it passed a kracka to threaten his life or something. The police surely won't care--I mean, hes a rapper, hes Black.


I know. At first I was thinking along those lines like he HAD to have been forced out...cause :wtf: I just didn't get it...

All that he went through with Dame to get Roc-a-wear and then to just sell it like that is crazy....

But in the end I think it all boils down to the dough.

Bad business move.




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[*] posted on 3.9.2007 at 09:58 PM


If he was the President or CEO and Roc-A-Wear is a pubically traded company then the board can force him out by a vote.



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[*] posted on 3.12.2007 at 11:34 AM


:ia: with u Narc...I own a few Rocawear items, but now, it's like, I don't even wannna wear it now...dang



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[*] posted on 3.12.2007 at 02:32 PM


Rapper/mogul Shawn "Jay-Z" Carter has entered into a deal to sell clothing company Rocawear for $204 million in cash to the Iconix Brand Group, a company that licenses and markets such popular brands as Candies, Joe Boxer, Mudd, London Fog, Ocean Pacific and others.

The deal could also net Jay-Z $35 million in Iconix stock, if the Rocawear brand meets certain performance requirements over the next three-five years.

"Iconix is pioneering a new brand management model and by combining Rocawear with their platform, my team and I can focus on our strengths in design and lifestyle
marketing." Jay-Z said. "I'm also looking forward to working with Neil Cole and the Iconix organization on other brand development opportunities."

Jay-Z will continue to be in charge of all product development, marketing and licensing for Rocawear, which boasts annual retail sales of over $700 million.

The rapper will retain his stake in the operating company the manufactures all of the Rocawear men's apparel line, and the mogul's two partners, Alex Bize and Norton Cher, will continue to ran the manufacturing company.

"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," said Neil Cole, Chairman and CEO of Iconix Brand Group commented. "The leadership team is already in place to fulfill our mission and we will maintain complete continuity within the business by having Jay and his team in charge of all product development, licensing and marketing. Jay and his partners in the operating company that manufactures all of the Rocawear men's apparel, Alex Bize and Norton Cher, will become our licensee for the core business. Iconix will add talent and resources that I believe will
help make Rocawear a billion dollar global brand. 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."

Iconix is forecasting that Rocawear, which was founded in 1995, will generate almost $43 million in royalty revenue during the first 12 months of the agreement.

Iconix and Jay-Z have also reached a deal to form a new brand management/licensing company that will debut a new luxury brand titled The Shawn Carter Collection, which is due in stores in 2008.

The deal is expected to close this month.




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