Damon Dash sells Rocaware stake

Damon Dash has sold his 25 per cent stake in Rocawear label for $25 million. Dash said in a recent interview that Rocaware is no longer reflective of who he is.

"In the past five years, I've learned so much and made so much money that I don't feel any animosity. We've all prospered," said Dash about his partners Jay-Z and Russian investors Alex Bize and Norton Cher of the Comet Group in a WWD.com interview.

"I feel like my partners don't understand what I'm trying to represent. We were getting a bit too demographic. I also think my partners, but not Jay – he wasn't really active as far as the business went – were thinking I was using Rocawear to fund my lifestyle. I think they felt like I was using Rocawear money to fund everything else I was doing when, in actuality, I was funding other companies, like America magazine out of my own pocket."

Last year Dash and partners Jay Z and Kareem (Biggs) Burke sold their 50% of Roc-a-fella Records to the Universal Music Group fo $10 millions.