Jay Z’s Barneys clothing deal yields profits exceeding $1 million

The Shawn Carter Foundation has $1 million more in its coffers thanks to profits from the luxury clothing line Jay Z launched at Barneys’ flagship Manhattan store six weeks ago.

A source close to Barneys said figures were being tallied on Friday, the last day of sales, but profits had exceeded the million-dollar mark. The collection was unveiled amid a surge of criticism from Jay Z fans who wanted him to pull out of the Barneys deal after two black shoppers said they were racially profiled at the high-end store.

Instead, the rapper and the store pledged that 100% of the collection’s profits and 10% of all of Barneys’ sales on the day of the line’s debut would go to the foundation, which helps needy students pay for college.

ny daily news