Parlux Fragrances paid $7,259,061.31 to Jay-Z on Wednesday after losing a lawsuit claiming he failed to live up to his contractual obligations to promote the cologne, Gold Jay-Z, according to TMZ.
The lawsuit was originally filed in 2016, and a jury ruled in Jay-Z’s favor more than a year ago. Parlux filed an appeal which they lost at the end of May. The payout reflects the court’s ruling that Parlux pay the music mogul $6.8 million plus interest for unpaid royalties, TMZ reported.
Jay-Z Pockets $7.2 Million, Parlux Pays Up to End Perfume Saga https://t.co/E3IYJ3zZCo
— TMZ (@TMZ) June 8, 2023
During the legal battle, Parlux argued Jay-Z “ghosted” the perfume brand and abandoned his contractual obligations, according to Yahoo. Jay-Z countersued the company, saying he satisfied his contractual obligations and the corporation was withholding funds that were due to him.
A five-judge panel agreed with a previous 2021 jury verdict that Jay-Z was not negligent in his promotion of Parlux. “There were multiple rational bases for upholding the jury verdict, and plaintiffs have not set forth a sufficient basis to overturn it,” according to Yahoo. (RELATED: Beyoncé, Jay-Z Make History With Purchase Of $200 Million Home)
Jay-Z, whose real name is Shawn Carter, originally entered into an agreement in 2012. The music icon agreed to promote a new perfume that was released under the name Gold by Jay-Z. The fragrance was released for sale a year after the agreement was made, but the fragrance sales failed to impress, according to Hip Hop DX.