Jay Z Wants Fragrance Company To Run Him His Coins!
(AllHipHop Rumors) Welp, Jay Z’s fragrance deal certainly stinks at the moment!
Jay Z and fragrance company, Parlux, have been at each other’s throats as they both claim that the opposite party has breached the contract.
Hov is claiming that he hasn’t been paid his royalties from the company in two years despite the fact that the company has continued to make profit off of the fragrance that bears his trademark!
According to Bossip, both Jay Z and Parlux are playing the blame game. Parlux claims that Jay Z was supposed to post about the fragrance on social media as well as do promotional appearances, but when it came time for Jigga to do Good Morning America, Macy’s and Women’s Wear Daily, he declined the appearances.
The fragrance company claims that Jay Z blew off several meetings, and consequently new fragrances were never launched. Instead of the $50 million in sales they planed to make, unsold inventory was actually being returned from stores causing them to sue Hov for $18 million.
According to Jay, Parlux are the ones who actually breached the contract.
Jay has accused the company of failing to make required payments or devote the required resources and money to promote his fragrance.
With the deal that they had in place he would’ve made $750,000 for the first year and by the fifth year he would receive $1.75 million. Jay decided to sue for $1.5 mil in past due royalties.
Welp Jay wants his royalties, and Parlux seems to believe they can rightfully withhold them. Man business sure gets messy. I wonder in whose favor will the judge rule.
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