Who did Jay-Z sell Roca Wear to, and why?

Jay-z actually did sell Rocawear. He sold Rocawear to Iconix, the owner of Joe Boxer and Candie's brands. However, as part of their agreement, Jay-Z will continue to be chief creative officer of Rocawear and will also retain his stake in the operating company. His partners, Alex Bize and Norton Cher, will continue to run the company and enter into a long-term license agreement with Iconix. Jay-Z sold his clothing line for $204 million dollars in cash, and all he had to say was, "I'm a business man."|||He didn't sell it. It's just a rumour.