Iconix Brand Group Inc., an owner, licenser and marketer of consumer brands including Candie’s and Bongo, said on Tuesday that it has agreed to buy Rocawear brand for $204 million in cash.

The purchase price includes contingent payments of an additional $35 million of Iconix stock based on the brand suprassing some performance thresholds over the next three to five years.

Rocawear co-founder, Jay-Z, will retain his stake in the company and will be in charge of all product development, marketing and licensing for Rocawear. Jay-Z’s senior management team in licensing, marketing and product development will also join Iconix.

Iconix predicts Rocawear will generate about $43 million in royalty revenue from its first year as part of Iconix.