Jay-Z Is Owed $6.8M In Unpaid Royalties Over Failed Cologne Brand
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Jay-Z scored a win over Parlux in court over his failed perfume brand. According to Billboard, a New York state appeals court found that Mr. Carter is owed $6.8 million in unpaid royalties for “Gold Jay-Z” cologne. Hov’s win arrived just a year after the Manhattan Supreme Court Justice demanded Parlux dish out almost $7 million plus earned interest to the rapper after they sued him for breach of contract.
Parlux’s arguments that the icon “ghosted” his perfume brand and contractual obligations, and that the court should have “set aside the verdict” and ordered a new trial have all been rejected by the court.
The judge panel spoke about their decision to uphold the August 2022 verdict that Parlux — not Shawn Carter — owed money. “There were multiple rational bases for upholding the jury verdict, and plaintiffs have not set forth a sufficient basis to overturn it,” a five-judge panel ruled.
Carter partnered with Parlux in 2013 to bring forth “Gold Jay-Z” cologne. After a tumultuous three years, the scent company filed a lawsuit claiming that the Brooklynite failed to “properly promote his brand,” resulting in poor sales. Parlux also argued that the emcee breached his contract and, in doing so, marked the cologne for failure.
Hov countersued the company and asserted that he satisfied his contractual obligations despite Parlux not putting their best foot forward in the partnership. He also added that the perfume and the corporation owed him money.
With the new verdict, Parlux can rechallenge the court’s decision and take its argument to the Court of Appeals. If accepted by New York’s top appellate court, this battle could potentially be dragged on even longer.
With Hov possibly looking at $6.8 million extra in his pocket, you can expect the Carters to make more illustrious purchases. In May 2023, Beyoncé and her husband bought the most expensive home in California state history.
According to TMZ, the couple snagged a 30,000-square ft. home located in Malibu overlooking Paradise Cove. The purchase set the Carters back a historic $200 million — the priciest transaction ever for the West Coast locale. Consequence of Sound also reported that Japanese architect Tadao hand-crafted the musicians’ new investment. William Bell, the famous art collector, was the building’s previous owner, spending 15 years remodeling and constructing the all-concrete home.
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