Ray J Inks $31M Deal For Electronics Company ‘Raycon’
The Love and Hip Hop Hollywood star has signed a $31M deal with Cowboy Wholesale for his Raycon brand of personal electronic transportation vehicles including his foldable two-wheel Scoot-E-Bike. Ray J flaunted this specific bike on an episode of his hit VH1 reality series last season.
According to a recent press release, Raycon is an extension of Ray’s company Raytroniks. The re-branded company will focus on “more innovative, high-demand electronics designed and backed by celebrities and plans to address the everyday needs of the urban technophile, focusing on impactful electric transportation.”
Ray J said he’s committed to developing products that take advantage of green energy:
“The world is moving towards renewable green energy, and electric transportation is a big part of that. With the Raycon movement, we are going to make sure we are one of the first ones there.”
BusinessWire reports Ray J will take an active full-time role in the newly formed partnership, overseeing marketing and global branding strategy.
Apparently, Brandy’s brother is getting celebs on board to market his company and secure product placement growth through celebrities such as Sean Combs, Brandy, Snoop Dogg, Chris Brown, Justin Bieber, Stephen Curry, Cara Delevingne, and professional athletic teams, including the L.A. Clippers and Los Angeles Rams.
The Raycon official product launch is set to release mid-November 2017 and products will be available for purchase at RayconGlobal.com.
“The world is moving towards renewable green energy, and electric transportation is a big part of that. With the Raycon movement, we are going to make sure we are one of the first ones there,” said Ray J in the press report.
Meanwhile, Ray J reportedly still makes over $300,000 a year for his infamous sex tape with Kim.
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(Photo Credit: PR Photos)