Hip Hop was wondering when or if Damon Dash was going to land on his feet and it looks like he just may have. The former Chief Executive at Roc-A-Fella Records announced today that he and his wife, Rachel Roy have formed a $4 billion dollar joint venture with Jones Apparel Group to develop, market and license their fashion brand, Rachel Roy.

Forbes.com is reporting that the partnership, which will be backed by venture capitalist TSM Capital, LLC, gives Jones 50% of the joint venture interest. Rachel Roy and Damon Dash will own the remaining interest along with TSM Capital. Jones will license the designer collection and run it’s business operations but Rachel Roy will continue to be involved with the design, manufacturing and production of the brand.

Both Dash and Roy have been working hard to develop the very high-end woman’s line since it’s inception in 2004 which is now sold in Bergdorf Goodman, Neiman Marcus, Nordstrom and Saks among others worldwide.

“TSM is an excellent partner,” Roy, said. “I am excited to be part of a leading American company like Jones, which shares my commitment to quality and innovation. I am excited for the future and to uncover the label’s full potential.”

“Both Rachel and her clothing appeal to many audiences around the world, making her a widely renowned design talent” responded Dash. “Through this partnership, we will be able to explore new opportunities for Rachel Roy, the brand.”

$4 Billion though?!  See that’s why you can be down but never out as long as you get up off the canvas.  There are a lot of business lessons to be learned here.  I don’t know or really care what Dame and Rachel Roy’s personal life is like but clearly their are efficient business partners much in the same vain of Russell and Kimora.  I’m happy for the kid from Harlem…$4 Billion…(*shakes head*)