Jay-Z Buys Artful Dodger

8 11 2007

Scion, a joint venture between Jay-Z and Iconix Brand Group Inc, recently announced that they have acquired the Artful Dodger clothing line for $15 million in cash.

Artful Dodger is a high end apparel brand founded by designer Scott Langton, and its is sold in boutiques and specialty stores in the United Kingdom and the United States.

“Artful Dodger is an incredible brand with a lot of room for growth and Scott Langton is a visionary designer,” Jay-Z said in a statement. “They represent what’s next and new in fashion and we are glad to have both the brand and Scott as a part of our family.”

Earlier this year, Jay-Z sold Rocawear to Iconix for $204 million in cash. As part of the deal, Hov would continue to his role as Rocawear’s chief creative officer and would assist Iconix develop its variety of brands.

Hov and Iconix would form Scion, a brand management and licensing company.

Just recently, Jay-Z and Iconix inked a deal with cosmetics giant Elizabeth Arden to create fragrances and skincare products for Rocawear.

On Tuesday (November 6), Jay-Z released his tenth album, American Gangster, which
is on pace to be the No. 1 album on The Billboard 200 next week.

Landing at No. 1 next week with tie Hov with Elvis Presley for second place for the most number one records, with ten. The Beatles top the list with nineteen.

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