Earlier this year, Jay-Z sold Rocawear to the Iconix Brand Group Inc for $204 million in cash.  As part of the deal, Hov would continue to run the company as the chief creative officer.

Via the new partnership with Elizabeth Arden, Rocawear will also release skin care and cosmetic products which will be creatively overseen by Jay-Z.

“We are excited to partner with an industry giant such as Elizabeth Arden,” Hov said in a statement. “The combination of their expertise in fragrance and our ability to affect popular culture will produce some incredible products and breathe excitement into the category.”

Jay-Z will be releasing his tenth solo album, American Gangster, tomorrow (November 6) and launching his five day tour in support of the project.  [Click here for the full itinerary]

American Gangster is the rapper’s first conceptual album and it was inspired by scenes from the crime drama of the same name which opened in theatres this past weekend.

To stay true to the album’s concept , American Gangster will be not be available  on iTunes and can only be purchased ints entirety at rocafella.com, Amazon.com and rhapsody.com.

“As movies are not sold scene by scene, this collection will not be sold as individual singles,” Jay-Z explained.

The video, which was directed by Chris Robinson, is an excerpt from the rapper’s own movie version off American Gangster, which is currently being filmed.