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|Posted: Thu Feb 21, 2008 4:23 pm Post subject: 6/FEB/08: G-Unit Clothing Brand Closing? Reps Say 'No'
|Representatives for 50 Cent have denied reports that the rapperís G-Unit Clothing brand will be shutting down for good.
The rapper, born Curtis Jackson, launched his G-Unit clothing brand in 2004 in partnership with Marc Ecko Enterprises, which owns 50% of the brand. While G-Unit Clothing isnít shutting its doors, reports have stated that a round of layoffs at the company could come as early as next week.
"They arenít shutting down," sources said. "They may be leaving their partner, but the G-Unit brand is a base business of $75 million dollars annually."
According to a report in The Wall Street Journal, the G-Unit brand accounts for 15% of Marc Ecko Enterprises annual revenue, while sales of the G-Unit brand grew almost 30 % last year.
Ecko Enterprises, which owns over 40 retails stores, earns over $1.2 billion dollars in annual revenue. The company also owns the Zoo York and Avirex Clothing lines and Complex Magazine and Marc Ecko Entertainment. In related news, 50 Cent and his G-Unit collective recently dropped a new mixtape titled Return Of The Body Snatchers.