Jay-Z and the Iconix Brand Group called Scion LLC have joined together to purchase the Artful Dodger clothing line for $15 million.
The line specializes high-end denim, t-shirts and sweaters, and has seen increased popularity over the past two years. Artful Dodger founder and CEO Scott Langton will become part of the Signature Apparel Group (with which Scion will enter into a multi-year licensing deal for the brand) 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.”
Whether or not Jay-Z will have any creative input on this project is unclear as of now. “Artful Dodger is an incredible brand with a lot of room for
growth and Scott Langton is a visionary designer,” Said Jay 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.”