Jay Z and Barneys had to trudge through a pretty big PR mess to get their holiday collaboration off the ground and into stores. And now, six weeks later, they've assessed the success of A New York Holiday. So how did Jay do, with his assortment of limited edition, not to mention expensive (there was a $33,900 watch involved), designer menswear?
A source has confirmed that the collection generated just over $1 million in profits. And since Jay Z announced, following Barneys' racial profiling allegations, that 100% of proceeds would go to his charity, the Shawn Carter Foundation (instead of the initial 25%), that means the whole $1 million is going to charity, which is nice.
However, does it mean the collection actually did that well? If you add up the cost of one of each item in the collection, it totals $154,958, meaning Barneys would have only had to sell six and a half of each item to garner $1 million in sales. However, we're told the number reflects overall profits, which means sales minus expenses. Considering that marketing and merchandising for the collection was likely pretty costly, it's a decent number. Especially given the fact that there were actual petitions urging the rapper to pull out. Though, Barneys did cut costs by canceling the launch event post-controversy.
Miss your chance to nab something from the collab? Not to worry: there are still a few items for sale online, and they're all magically under $1,000.