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JAY-Z BEHIND NEW KANYE, RIHANNA FRAGRANCES: Rap mogul teams with company to introduce products.
*Jay-Z is now making dollars and scents. The mogul has partnered with Parlux Fragrances to launch perfumes named for himself and an unnamed female singer, as well as mentees Kanye West and Rihanna.
Kanye and Rihanna’s fragrances are due in stores in 2010, while Jay-Z and the “well-established female artist” will hit stores in 2011, according to a press release.
“We are excited for the opportunity to partner with Parlux and their management team in the launch of these dynamic new brands,” says Jay-Z. Parlux’s CEO Neil Katz continues, “We are extremely excited to begin work on our projects with Rihanna and Kanye West. Each is an extremely highly regarded celebrity at the top of his or her profession who is undoubtedly going to make an indelible impression in the fragrance industry, just as each has done in the entertainment world.”
Jay-Z, a principal of Iconix Fragrances LLC, will have the option to purchase up to 4 million shares of Parlux’s at $5 a piece, reports the Wall Street Journal. Kanye and Rihanna will get paid for the venture through royalties, profit sharing and Parlux stocks rather than cash.
As for the mystery female artist, Parlux is already denying rumors that it's Jay-Z's wife, Beyonce.
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