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Jay-Z, through a new joint venture with the Iconix Brand Group called Scion LLC., has purchased the Artful Dodger clothing line for $15 million. The line, which has become increasingly popular over the past two years, specializes in high end denim, t-shirts and sweaters. As part of the agreement, Scion will enter into a multi-year licensing deal with Signature Apparel Group for the brand. Artful Dodger founder and CEO Scott Langton will join Signature and act as creative director and head designer.
“I consider myself very fortunate to have found a partner in Scion and am really excited about the future of Artful Dodger,” said Langton. “I am looking forward to working with Signature Apparel, who as a company, has both the production infrastructure and financial capacity to make Artful Dodger the brand I always envisioned it to be.” Scion is also exploring several other licensing partners in order to expand the brand into outerwear and footwear. “Artful Dodger is an incredible brand with a lot of room for growth and Scott Langton is a visionary designer,” Jay said in a statement. “They represent what’s next and new in fashion and we are glad to have both the brand and Scott as a part of our family. Artful Dodger represents the first of many acquisitions that will begin to shape our joint venture with Iconix.”