Damon Dash sells his stake in Rocawear

Damon Dash has sold his 25% share in Rocawear for a cool £30 million.

The Hip-Hop Mogul and fashion entrepreneur said that he was concentrating on other projects as Rocawear no longer reflects who is now.

Dash will concentrate on his wife's clothing range Rachel Roy and his own Damon Dash menswear line. Speaking frankly about the change and his business investors, Dash told Women's Wear daily:" I feel that my partners do not understand what I'm trying to represent.

"We're getting a bit too demographic. I also think my partners, but not Jay- he wasn't really active as far as the business went- were thinking I was using Rocawear to fund my lifestyle."

He went on to say that he was actually funding his other interests and projects from his own cash. Rocawear was first formed by Dash and Jay- Z in 1999 as a cool urban fashion brand. Since then the brand has gone from strength to strength.