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Thursday, November 6, 2008 | 7:21pm
Business Matters: Iconix Earnings Prove The Jay-Z Brand ‘Recession-Proof’
Along with London Fog, Jigga’s Rocawear responsible for Iconix eye-popping $18.3 million in revenue for 3rd Quarter.
It never ceases to amaze me that despite record layoffs, the economy in the toilet folks still are spending money on non-essentials like Jay-Z’s Rocawear fashions. AllHipHop.com is reporting that Iconix, which copped Rocawear from the jiggaman last year for just north of $200 million, was somehow able to rake in $18.3 million in the third quarter of 2008 ALONE!
Iconix CEO Neil Cole credit’s Jay-Z’s direct involvement (translation: without him we’re nothing) with Rocawear’s ability to actually boost earnings. Growing sales from Iconix’s London Fog brand also were credited with the amazing bankroll and according to Cole were were the “two biggest standouts in the quarter.”
FILED IN Business & Marketing, Fashion
I think Jay-Z’s cleverness laid in the fact that he always recognized the importance of branding, and of expounding on one’s indididual fame. The 18.3mil revenue is certainly nothing to mess with. For those who take pleasure in calling him a camel or monkey, especially the latter, I finally see why. The camel, although not the most handsome four-legged, humped-up creature, works on the sly, and goes far in the desert.
Aw lawd. Can’t believe I wrote indididual. Uh, that was a typo ya’ll.
I thought you were going for equating Jay-Z ability to make money go far like Camels are able to horde water.
That’s it! I’m building my own fashion line too!
+++Rymatica Urban Apparel by Richard John CEO+++
Of course, all the inspiration will be by examining the fashions that are doing it big such as Iconix’s Rocawear brand. You can keep a eye on my movements. Peace everybody.
Richard John CEO
http://www.RichardJohnCEO.com
P.S. I like the camel explanation abovw.
cake
I didn’t know London Fog was still around. i had a london fog coat when i was in the first grade.
LOL…how did I know you’d say something like that.