Parlux Fragrances is suing rapper Jay Z for $18 million dollars in punitive damages after an unsuccessful business venture. The company says it made a licensing agreement with the singer to use his name and image to launch the fragrance called “Gold by Jay Z” in 2013.
According to court documents, under contract, Jay Z was to use his celebrity image to help promote the product, including but not limited to sharing social media posts and promotional appearances, but, allegedly, the artist declined. The company also alleges that the multi-millionaire refused to appear on Good Morning America, promotional events at Macy’s, and to do an interview with Women’s Wear Daily.
Jay Z was also supposed to be part of a follow-up fragrance line, but according to the lawsuit he avoided meetings and eventually the new venture fell through the cracks and was never produced.
Parlux expected to make about $50 million dollars over a two year period based on the sales of Gold, but instead, the company claims it is losing money and stores continue to return unsold inventory.
So far, the rapper has not issued a statement addressing this case.
No comments:
Post a Comment