JAY Z SUED FOR $18MILLION OVER HIS PERFUME RANGE…AFTER SALES DROP BY 75%
Jay Z sued for $18million over his perfume range…after sales drop by 75%
The rapper and business mogul has been sued by a company which collaborated with him on the release of his perfume range, Gold Jay Z. They claim Jay Z didn’t keep his side of the deal.
Parlux Fragrances recorded a claim against Jay Z in the Manhattan Supreme Court, with the papers asserting the star neglected to advance his own particular mark scent. Reports guarantee the rapper should show up subsequent to the arrival of the scent in 2013, none of which he made.
In the documents, Parlux lawyer Anthony Viola said the company worked with Jacob the Jeweler to create five prototypes bottles which had solid gold caps and gold drizzled on the exterior which cost a staggering $20,000 each.
He said in the papers:
‘Mr. Carter rejected every one of them and kept the model’.
What’s more, that was by all account not the only thing he kept – the rapper additionally kept his ensured $2 million in advance sovereignty expense, docs claim.
Parlux claims the fragrance was an introductory achievement yet Jay Z‘s absence of responsibility brought about enthusiasm for the item to drop.
It expressed that ‘in the scent business, it is for all intents and purposes difficult to support the achievement of a big name aroma’ without both VIP limited time appearance.
The organization additionally blames the rapper for not creating follow up fragrances to keep fans intrigued.
By, the organization anticipated that would make about $50 million more than two years yet is currently losing cash.
The organization is currently requesting the court make Jay Z pay back the $2 million in advance sovereignty and give back 300,000 shares, void their agreement and after that needs in any event $18 million in harms.
According to NY Times
“Sales of Gold Jay Z have declined considerably because of Jay Z’s and his teams lack of interest in supporting and promoting his own brand,” according to the new $18 million suit filed by Perfumania Holdings Inc.
Gold Jay Z was the best selling celebrity fragrance a year after its launch in 2014, ousting David Beckham‘s aftershave by eight to one.
But sales tanked last year from a projected $35 million to $6.1 million because the rapper was too busy with other projects to focus on the fragrance, the Manhattan civil suit says.
Jay Z refused to appear on “Good Morning America,” turned down a cover story for Women’s Wear Daily and an event at Macy’s to promote the men’s scent, according to court papers.