GQ reported earlier that Jay-Z's fashion house, Rocawear has bought Pharrell's Billionaire Boys Club. It's now clear that Jay-Z will form a partnership with Pharrell, not buy.
Rocawear is “licensing” Billionaire Boys Club, meaning they will make and distribute BBC’s products, with Pharrell retaining creative control. In the past, BBC did all the manufacturing and distribution by itself, with some initial help from Pharrell’s friend and mentor Nigo/A Bathing Ape.
We'll post the official announcement once it's released!