Despite much controversy surrounding Jay-Z’s “A New York Holiday: BNY SCC” collaboration with Barneys’ due to claims of racial profiling by customers of the high-end store, it turns out that it was a big success for all involved, especially the people benefiting from Hov’s Shawn Carter Foundation.
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According to the NY Daily News, The Shawn Carter Foundation has earned over $1 million profits, from the luxury clothing line Jay-Z launched in collaboration with Barneys’ flagship store in Manhattan, NY in November of 2013, which will go to those wanting to go college, who otherwise couldn’t afford it.
The collaboration was almost cancelled due to public demands, and a petition, but Jay-Z added some stipulations to the deal in order to make it happen such as the 25% profit The Shawn Carter Foundation would have got out the sales, Jay-Z demanded 100% of the profit and that Barneys’ throw in an extra 10%. Also, he wanted Barneys’ to create a council to deal with racial profiling and he wanted a seat on that council.
As previously reported, the profits earned through the joint venture will be given to help individuals facing socio-economic hardships to help further their education at institutions of higher learning.