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Jay-Z Buys Artful Dodger Brand For $15 Million

Hip-hop mogul Shawn 'Jay-Z' Carter has signed a deal to buy British designer Scott Langton's luxury clothing brand Artful Dodger - for $15 million (£7.5 million) cash.

The rap star completed the purchase together with his business partners Iconix Brand Group Inc. last week (ends09Nov07) under the company name Scion - a joint venture between the two parties.

In a statement, Carter says, "Artful Dodger is an incredible brand with a lot of room for growth and Scott Langton is a visionary designer. "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."

Iconix bought Jay-Z's Roc-A-Wear Clothing label earlier this year (07) for $204 million (£102 million) in cash. (MT/WNWCNHL)

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