Rap mogul Jay Z‘s business practices have come under the scrutiny of a new survey which suggests, despite his massive popularity, Jigga’s brand has taken a hard hit in 2013.
According to reports, Young Hov’s power to persuade and influence lacks one key characteristic.
According to research from celebrity branding expert Jeetendr Sehdev, Jay Z’s partnership with Samsung was the second least popular celebrity marketing deal of 2013 among consumers aged 13-31 (Justin Bieber‘s partnership with OPI was the most hated). In fact, the 1,000 millennials surveyed said the rapper himself was among the people least influential to their purchase decisions among the 80 celebrities Sehdev asked about, a group that included a range of personalities spanning from Tom Brady to Hillary Clinton. Sehdev said that while Jay Z remains popular with Americans of all ages, his brand is missing one crucial piece needed to persuade them to spend hard-earned money on the products he touts: authenticity. (Business Insider)
The survey also targets Jay’s unexpected Magna Carta Holy Grail summer album rollout and run with the Brooklyn Nets coming to a sudden end.
Despite the album’s strong sales, critics condemned it for being an uncreative endeavor motivated by commerce rather than artistic expression. “Millennials question the exact nature of Jay Z’s role in the artistic process,” Sehdev said. “Does he really write his own songs? Is he choosing the artists to collaborate with, or is he just the face of a money-making empire?” Further, Jay Z’s recent business decisions outside music are seen as lacking cohesion with the person he claims to be. After purchasing a stake in the NBA’s New Jersey Nets and serving as the public face of a contentious campaign to move the team to his home borough of Brooklyn, Jay sold his interests in the team less than a year after. (Business Insider)
Last month, the one-time Brooklyn Nets minority owner issued a public statement to the masses regarding his controversial choice to stay with clothing retailer Barneys despite multiple racial profiling accusations.
“In the past several weeks two separate investigations were launched as a result of the wrongful detention of Trayon Christian and Kayla Phillips. My team has been privy to the status of the Barneys third party consultant investigation. In continuing our research, we also contacted the New York State Attorney General’s office for the status of their investigation into both Barneys and Macy’s. Those findings are not yet available. While I await the findings of the Attorney General’s Office, I have agreed to move forward with the launch of BNY SCC collection under the condition that I have a leadership role and seat on a council specifically convened to deal with the issue of racial profiling. I am in a unique position to use my voice to affect change to this disturbing issue. The easy position would have been to walk away and leave policy making to others hoping that someone addresses the problem. I will not leave the outcome to others. I will take this into my own hands with full power to recommend, review and revise policies and guidelines moving forward. I am choosing to take this head on.” (Life & Times)
Various media outlets speculated growing tensions from Jay sticking to Barneys likely contributed to the company’s decision to nix a launch party last month.
Although it’s unclear whether the event was cancelled due to the racial discrimination lawsuits, — a call to Barneys vice president of public relations & special events wasn’t immediately returned — we can’t say we’re surprised. Folks are still fired up about the partnership between the rapper-turned-mogul and high-end department store. And with so much negativity surrounding the venture, we think celebrating pricey clothes and accessories seems a bit silly, and we’re not the only ones who feel that way. “Any African-American, male or female, with any consciousness of what has happened would not go into Barneys right now. Nor Macy’s.” André Leon Talley, the former editor-at-large of Vogue, told The New York Times. (Huffington Post)
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