Jay-Z buys Artful Dodger brand for $15m

Hip-hop mogul Shawn 'Jay-Z' Carter has signed a deal to buy British designer Scott Langton's luxury clothing brand Artful Dodger - for $15m (€10.24m) cash.

The rap star completed the purchase together with his business partners Iconix Brand Group Inc. last week under the company name Scion - a joint venture between the two parties.