Barneys Cancels the Jay Z Event

Barneys New York has cancelled Wednesday's event to kick off "New York Holiday," their collaboration with Jay Z, WWD reported. The event was supposed to be a fundraiser for the Shawn Carter Foundation.

The cancellation comes after controversy over Jay Z's collaboration with Barneys and alleged allegations of racial profiling against the retailer.

Both Barneys and Jay Z made a statement Friday saying they are committed to the launch of BNY SCC Gallery and Collection, which debuts Wednesday, and 100% of all sales from the BNY SCC Collection will go to the Shawn Carter Foundation. The Foundation provides educational opportunities to young people facing socioeconomic hardship. In addition, Barneys plans to donate 10% of all retail sales from U.S. Barneys stores and barneys.com from Wednesday's sales.

Last month, Jay Z faced criticism for collaborating with the retailer after two African-American customers were detained by the New York Police Department after purchasing expensive items in the store. In the first instance, Trayon Christian has filed a discrimination suit against Barneys, the city and the NYPD. The second, Kayla Phillips, has filed a $5 million notice of claim. The New York Attorney General Eric Schneiderman has also begun an investigation into the alleged racial profiling at Barneys and Macy's.

Jay Z said he was going forward with the collabortion but only if he be given a leadership role and seat on a council specifically convened to deal with the issue of racial profiling.