Representatives for 50 Cent have denied reports that the rappers G-Unit Clothing brand will be shutting down for good.
The rapper, born Curtis Jackson, launched his G-Unit clothing brand in 2004 in partnership with Marc Ecko Enterprises, which owns 50% of the brand.
While G-Unit Clothing isnt shutting its doors, reports have stated that a round of layoffs at the company could come as early as next week.
“They arent shutting down,” a source told AllHipHop.com. “They may be leaving their partner, but the G-Unit brand is a base business of $75 million dollars annually.”
According to a report in The Wall Street Journal, the G-Unit brand accounts for 15% of Marc Ecko Enterprises annual revenue, while sales of the G-Unit brand grew almost 30 % last year.
Ecko Enterprises, which owns over 40 retails stores, earns over $1.2 billion dollars in annual revenue.
The company also owns the Zoo York and Avirex Clothing lines and Complex Magazine and Marc Ecko Entertainment.
In related news, 50 Cent and his G-Unit collective recently dropped a new mixtape titled Return Of The Body Snatchers.