Tommy Hilfiger Wanted To Buy Rocawear For $450 Million

Dame Dash has been in the middle of some big deals throughout his career in the entertainment world and with Rocawear, but he was almost involved in a much bigger situation if it went through.

In a recent interview with Revolt TV’s Assets Over Liabilities, Dame Dash, the co-founder of Roc-A-Fella, said that he once almost sold his company’s retail arm of Rocawear to Tommy Hilfiger for $450 million.

“We were about to sell to Tommy Hilfiger for like $450 million, I had got jumped in Paris during fashion week, and I got the film I can show it to you and Tommy’s in my ear like ‘yo, I wanna buy the company…,’ I’m like ‘yo I got a concussion man it’s loud. Let’s talk later.’ But they did make the offer. So I woulda walked away with like $40 million, and when you put a company to get bought there’s due diligence that comes with it. So due diligence is lawyers that cost like a million dollars just to look through everything.”

“We go through all of that shit. Right before we close, your man makes an announcement that he’s launching another brand… so it devalued the brand and they left, because they were like if Jay’s not a part of it we don’t want it.’”

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“Anything that’s run by the ads, the sales team that’s the boss. Cause that’s the person that’s paying the bills. So, if you wanna get in this business, and what I’m learning is paid subscription doesn’t work. So anybody that thinks Netflix is this that and the third they just dropped 40%, they always gotta raise a billion.”

“They might have a lot of catalog and shit right now but they’re spending a lot of bread. Tubi is up 40% it’s free tv. So free subscription work, but if you have people coming directly to you then you have to have your own sales team.”

This story may sound disheartening, but it was one of many anecdotes shared with Assets. However, the entrepreneur said that these experiences taught him the importance of a good sales team for a company.

We might never know what the world would be like if this landmark deal went down, but it was certainly an interesting idea to think about. This just goes to show that even the biggest deals can go wrong if they can’t make everything work out.

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