Following in the steps of his “big brother,” Jay-Z, Kanye West, along with pop princess Rihanna, will launch signature fragrances, due in stores in 2010.
Parlux Fragrances, Inc. announced this week that it has partnered with Jay-Z’s licensing company, Iconic Fragrances LLC, to release branded perfumes and colognes bearing his name, as well as the names of Rihanna and West.
“We are excited for the opportunity to partner with Parlux and their management team in the launch of these dynamic new brands,” Jay-Z said in a statement.
The veteran rapper will have the option to purchase up to four million shares of Parlux at $5 apiece, reported The Wall Street Journal. Rather than cash, Kanye and Rihanna will get paid for the venture through royalties, profit sharing, and Parlux stocks.
“We are extremely excited to begin work on our projects with Rihanna and Kanye West,” stated Parlux’s CEO Neil Katz. “Each is an extremely highly regarded celebrity at the top of his or her profession, who is undoubtedly going to make an indelible impression in the fragrance industry, just as each has done in the entertainment world.”
Along with his new fragrance, the “Heartless” rapper will also expand his empire by releasing an energy drink with GURU Beverages Inc., later this year.
“I express myself through music, fashion, art, and design and that’s why I am excited to collaborate with GURU; because the brand values what I value, and I can put what inspires me into this new product,” West said in a statement.