Jay-Z and Damon Dash -- it seemed like a match made in heaven until their eventual “break-up”. Still, the duo was quite a pair for almost a decade when they stood at the top of the music world as hip-hop’s version of Batman and Robin.
Trying to secure a record deal for Jay-Z, Damon and Jay were rejected by every major label in New York. Undeterred, the entrepreneurial duo decided to strike out on their own, forming the independent minded Roc-A-Fella Records. They released Jay’s debut album, REASONABLE DOUBT, on June 25, 1996. Hailed as one of the greatest albums of all time, REASONABLE DOUBT opened the doors that had previously been slammed in their face. Soon after it’s release, Roc-A-Fella signed a distribution/label deal with Russell Simmons’ Def Jam Records. Before long, Jay-Z and Dash were signing new acts left and right (Beanie Sigel, Kanye West, Memphis Bleak, etc.).
Ever ambitious and hungry for more, Jay-Z and Dash moved into a number of other business, looking to reinvest their profits from Roc-A-Fella. They produced films, invested in a high end Vodka company, Dash even turned out a monthly magazine, but in 1999 the pair began working on what would be one of their more successful projects, they expanded into the fashion industry. The Rocawear clothing line was born.
Rocawear looked to follow in the footsteps of hip-hop inspired clothing lines like Phat Farm and Sean John. Rocawear, however, would bring a harder, street edge to the masses. With the greatest rapper alive as its spokesman, Rocawear was center-stage from the very beginning, destined to be a success.
That said, Jay-Z and Dash recently had a falling out over some business decisions that were being made without one another’s consent. Eventually, they were forced to go their separate ways. Dash sold his stake in Rocawear for a little more than $20 million and questioned whether Jay would be able to maintain the success Rocawear had achieved without him by his side.
In early 2007, Jay-Z sold Rocawear to Iconix Brand Group for $204 million. That said, he will continue to run the clothing line’s day-to-day operations.
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