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Wednesday, June 25, 2008

Damon Dash Talks $4 Bil Fashion Deal, “She’s Gonna Be As Big As Ralph Lauren”


By Cyrus Langhorne

About a week since announcing a new clothing business venture with his wife Rachel Roy, Roc-A-Fella Records founder Damon Dash has clarified what the deal's value is and how his wife is capable of becoming the female Calvin Klein.

In a recent interview with Peace Magazine, Dame opened up and cleared the confusion of whether the deal with Jones Apparel Group was worth $4 billion and explained his impressions of working with a large company.

"The company is a $4 billion dollar company--I guess we have the potential to make that kind of money. I just never been with a company that big," he said. "Being that it's so outside the scope of what you think an urban individual would do, I'm real proud of that. I didn't just do a deal with a company that's exploiting my culture, I did something that took some respect and some very risky hustling--doing something that doesn't usually happen."

Comparing his wife's deal to when he sold Rocawear clothing to his previous partners including rapper Jay-Z, Norton Cher, and Alex Bize, Dash laughingly confirmed there was no comparison.

"Come on, man. I said $4 billion. Norton was $4 dollars," he joking said. "This is high fashion and volume. This is like elven and minch, you know what I'm saying. It's a class level--they make high-end luxury goods at an affordable price point and they do a lot of it consistency for a long period of time. I don't think they sell their company, they buy'em."

Dash also commented on the limitless possibilities Roy will encounter as she begins to compete against popular lifestyle brand names and name a few high-profile entrepreneurs she will be compared to.

"She has a line it's just gonna be a lot of different lines. It's limitless to what can be done, you don't even know. It means she's gonna be as big as Donna Karen, and big as Ralph Lauren, and big as Calvin Klein. It's that kind of situation."

Speaking briefly on his deal with Pro-Keds, Dame said he has considered selling back his original agreement with the brand.

"I think I'm gonna try to sell stride ride the license back. I don't own it, you know. I would license the brand. It makes no sense to license a brand you don't own."

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