Jay Z is facing an $18 million lawsuit after an unsuccessful foray into the cologne business.
Depending how closely you follow Jay Z‘s business ventures, of which there are many, you may recall that two years Jay Z announced his first-ever cologne: Gold. It’s quite likely that you don’t recall this, simply because, following that initial announcement, not much happened in the way of the cologne. There wasn’t a big promo run like Rihanna did for her recent perfume RiRi, there wasn’t a massive ad campaign, in fact, I don’t think we ever heard from Hov himself once on this cologne.
Parlux Fragrances has realized Hov’s lack of participation in the fragrance roll out, and now they’re suing Jay for a hefty sum: $18 million. They claim the cologne’s failure is due largely in part to Jay Z– he was supposed to do social media posts and interviews about the cologne, but declined. He was supposed to work with the company on a follow-up line, which also never happened.
Parlux claims in their lawsuit that they expected to rake in $50 million over two years with Gold. Obviously that’s far from the case, as the company says they’ve been losing money and they’ve had countless returns of unsold inventory.
Parlux is seeing $18 million in damages.