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JAY-Z TEAMS UP WITH SOCCAR STAR ASHLEY COLE FOR NEW CHARITABLE 40/40 CLUB

JAY-Z TEAMS UP WITH SOCCAR STAR ASHLEY COLE FOR NEW CHARITABLE 40/40 CLUB

First there was Panera's non-profit concept store "Panera Cares Cafe" where all profits go to charity; then high-end retailerNordstrom announced it would test out a charity-driven business model this fall in New York City's Soho district.

And now? Rapper Jay-Z is wading into the charity space with a similar business model. Indeed, the mogul has announced plans for a new restaurant and nightclub in London in partnership with soccer star Ashley Cole (ex-husband of former X-Factor judge Cheryl Cole) with a percentage of profits going to different charities each month, according to U.K. newspaper, The Sun. The business partners say they intend to hire unemployed youth.

This is an expansion of Jay-Z's 40/40 brand of clubs that started with locations in New York City and Atlantic City, N.J., which do not feature this charity model. (more)

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Article by CHRISTIE GARTON, USA Today | Read full article here



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