Jay-Z's New Fragrance Deal Has the Smell of Money

The rap icon has teamed with a local company to produce scents for Rihanna and Kanye West

By Todd Wright
|  Thursday, Apr 9, 2009  |  Updated 6:37 AM PDT
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Jay-Z's New Fragrance Deal Has the Smell of Money

Frank Micelotta/Getty Images

Tell me who wouldn't want to smell like either of these two?

The hits just keep coming for Jay-Z, but this one will fill your nostrils.

Jay-Z, whose government name is Shawn Carter, has signed a deal with Parlux Fragrances, a South Florida-based company to produce and market smells for himself, Rihanna and Kanye West.

The partnership is officially between Parlux and Iconic Fragrances, Jay-Z's smell-good company.

The deal gives Carter rights to royalties and part of the profits generated by the new fragrances as well as giving Carter and his clique the option to purchase shares of Parlux at a set price, according to the Miami Herald.

Parlux will also be allowed to market the fragrance of an unidentified female singer. Might it be Jay-Z's main squeeze, Beyonce?

The deal was met with almost as much excitement on Wall Street as when Jay-Z steps on stage with a mic at Madison Square Garden. Parlux's stock price was up more than 75 percent in morning trading. The stock opened at $1.24 per share and was trading as high as $1.82.

Jay-Z has already proved he has skills outside the recording booth by successfully heading ventures into clothing, shoes and even alcohol. So expect clubs to be filled with the smells of Jay-Z soon.

In his own immortal words, "You can't knock the hustle."

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