Does this guy ever stop? No.

Shawn “Jay-Z” Carter has joined forces with Parlux Fragrance Inc. and signed a licensing agreement that will assist in the fragrance releases from Kanye West and Rhianna. The deal will give Iconic Fragrances, LLC royalties and profit sharing leverage which enables them to purchase 4 million shares at $5 a share…off the rip!

The fragrance manufacturer and distributor has seen its stock tumble along with those of many other companies amid a recession and a poor retail environment for discretionary products.

Tuesday, shares rose 5 cents, or 5.9%, to 90 cents a unit.

But by securing deals, Katz said the company is doing what it can in a challenging economy and is betting that the celebrity appeal with help boost sales.

Parlux plans to roll out the Rihanna and Kanye West products by the summer of 2010.

The pair join a list of other celebrities such as singers Jessica Simpson and Queen Latifah, as well as designer Marc Ecko, who have signed licensing deals.

Among Parlux’s more successful deals is one with Paris Hilton, who recently renewed a five-year fragrance license and who also has watches and other accessories made by the company under her name.

Parlux is also in the process of negotiating fragrance deals with Jay-Z and another female singer, which will be unveiled in the next month, Katz said. Stock-options packages for the next two celebrities will be voted on by shareholders before they are issued in any deal.

Another good look for Mr. Carter. We wonder if the other “female singer” is his wifey, Beyonce.

I guess we’ll just have to wait and see.

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