Jay Z is facing a huge financial problem as he is facing a lawsuit over his signature fragrance. The lawsuit is worth $18 million and it claims that Jay Z didn’t promote the Gold Jay Z fragrance. He has reportedly collected more than $2 million from Perfumania Holdings Inc who now want Jay Z to compensate for the loss.
Jay Z, who launched the cologne back in 2014, had to promote the cologne to gather the promised and guaranteed minimum royalty. According tot he lawsuit, he and his team has collected the royalty without promoting the cologne. As a result, the sales have declined ever since its launch.
When the cologne launched back in 2014, it quickly became the best selling celebrity fragrance. However, the rapper has shown no interest in continued promotion and therefore the sales have started declining rapidly. Reportedly, he has refused to appear in certain shows that were planned as part of PR campaign for the cologne. He also turned down an interview and refused to become part of Macy’s, an event that could easily increase sales of his cologne.
Jay Z has faced various legal issues in the past few months and this seems like one where he’d have to bow down in the end unlike the famous copyright suit that he and his wife Beyonce won.