Jay-Z Clears Up More Rumors, Addresses Billionaire Boys Club Purchase

Grammy-winning rapper Jay-Z has stepped up to address reports claiming he threw money down and purchased producer Pharrell Williams' Billionaire Boys Club clothing company.

Writing on Twitter, Hov dismantled reports from men's fashion publication GQ claiming he purchased BBC.

""Partnering with @4real4rell on BBC" follow him.. (Not "buying" as GQ erroneously reported.)," Jay tweeted August 3rd. (Jay-Z's Twitter)

Earlier in the day, GQ initially reported Hovi bought the company.

On the eve of the release of Watch the Throne, his highly anticipated album with Kanye West, Jay-Z's adding more to his plate. GQ has learned that as of today, Jay-Z's fashion house, Rocawear, owns the licensing to manufacture and distribute Billionaire Boys Club. Sources say that Jay-Z and Pharrell, the current face and force behind BBC, will work as a tandem--utilizing Jay-Z's business prowess and Pharrell's creativity. Hypebeast, fret not! BBC won't be on the shelves of large department stores simply because it's under the Roc umbrella. But this is the backing that most streetwear brands don't have, which has lead to many shuttering their doors in recent years. For now, this is truly the best of both worlds *cue R. Kelly chorus*. (GQ)

Pharrell officially launched his BBC company roughly six years ago.

In 2005 Pharrell Williams, one half of the Grammy winning production team The Neptunes, along with his manager Robert Walker, partnered with Japanese fashion icon Nigo (founder of the highly successful A Bathing Ape / BAPE brand) to launch two lines of luxury clothing, BILLIONAIRE BOYS CLUB and ICECREAM. (Billionaire Boys Club)

Last June, Jay opened up about the image of his Rocawear clothing line.

"We are a great American brand," he explained. "We don't envision ourselves as an urban brand or streetwear brand. We wanted to show people how we've evolved and repositioned ourselves, without abandoning our original DNA. It's all walks of life. When I played the Glastonbury music festival people said a hip-hop artist couldn't play a rock festival. But culture isn't segmented like that any more. There's so much cross-pollinization and the same thing is true for clothes." (Necole Bitchie)