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Report: Jay Z’s Barneys Deal Yields $1 Million Profit

by

Life + Times

Jay Z‘s decision to launch a holiday collection with Barneys New York reportedly has proved to be a success, despite criticism Jay faced after two customers accused the luxury retailer of racial profiling.

The New York Daily News cites a source close to Barneys as saying that although final figures are still being tallied, profits have already exceeded the million-dollar mark. The line includes designs from Balenciaga and Balmain with prices for items ranging from $70 to more than $33,000.  

Prior to the racial profiling accusations, the rapper announced that 25 percent of sales would benefit his charity, the Shawn Carter Foundation. However, the mogul and the retailer later decided to pledge 100 percent of the collection’s profits and 10 percent of all of Barneys’ sales on the day the line debuted to support the organization’s mission to help low-income students pay for college.

Copyright 2014 ABC News Radio


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