DAME DASH SELLS HIS STAKE IN ROCAWEAR

Dame Dash has sold his 25 per cent stake in the Rocawear clothing line to his partner Jay-Z rnand Russian investors Alex Bize and Norton Cher of the Comet Group for $30 million. Dash rnsaid, “I feel like my partners don’t understand what I’m trying to represent. We were getting a bit too demographic. I also think my partners, but not Jay – he wasn’t really active as far as the business went – were thinking I was using Rocawear to fund my lifestyle. I think they felt like I was using Rocawear money to fund everything else I was doing when, in actuality, I was funding other companies, like America magazine, out of my own pocket.”

Dash will now focus his attention on his wife Rachel Roy’s contemporary line, the Damon rnDash menswear line, the State Property sportswear line and the Team Roc athletic line. Dash also owns the Pro-Keds sneaker company.

Last year Dash sold his share of Roc-A-Fella Records to the Island Def Jam Music Group and started his own Dame Dash Music Group label,