Source: Kevin Mazur / Getty
Another day, another couple of million dollars in earnings for Jay-Z.
It wasn’t from one of his many business dealings or some royalties kicking in but a victorious lawsuit. Hov’s been at war with Parlux Fragrances for more than seven years.
The fragrance company initially filed the lawsuit in 2016 for its business dealing with Jay, using his name and likeness to launch Gold By Jay-Z cologne in 2013.
However, Parlux said that despite Hov’s name being used for the product, he still didn’t fulfill his end of the bargain by publicly promoting the fragrance.
“But Parlux says Jay was supposed to do more — like make social media posts and promotional appearances, but he declined. The company says he refused to appear on Good Morning America, at Macy’s and in Women’s Wear Daily to pump up the scent,” TMZ wrote at the time.
After the initial fragrance went to market, Hov was supposed to collaborate with the brand for an entire line but never showed up for meetings, effectively killing the business.
Parlux took Jay to court because it was projected to make $50 million in profits but failed to meet expectations, so it wanted compensation of $18 million.
However, in 2022, the case went to court and Jay won, so Parlux was court-ordered to send Jay $7.2 million for his troubles. His royalties owed on sold colognes originated at $4.5 million, but a few more million were added with interest.
Perhaps the Carters will use that money to spruce up their new 30,000-square-foot home in Malibu, California, which at $200 million, is the most expensive property ever sold in the entire state of California.
Here’s how Twitter reacted when they purchased the massive home:
Jay-Z Wins $7M From Fragrance Company After Initially Getting Sued For $18M was originally published on cassiuslife.com
