JAY-Z SELLS ROCAWEAR FOR $204 MILLION

*It was announced Tuesday (March 6) that Jay-Z is unloading his Rocawear clothing label for $204 million in cash to the Iconix Brand Group, a company that licenses and markets such brands as Candies, Joe Boxer, Mudd, London Fog and Ocean Pacific. According to reports, the deal could also net Jigga $35 million in Iconix stock, if the 12-year-old Rocawear brand meets certain performance requirements over the next three to five years Under the agreement, Jay-Z will continue to oversee all product development, marketing and licensing for Rocawear, which reportedly earns over $700 million in annual retail sales. He’ll also retain his stake in the operating company that manufactures the Rocawear men's apparel line. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx HOUSE OF GLITZ: WAY TO GO JAY!!!!