Jay Z announces he'll continue Barneys collaboration

After heavy criticism and even a petition, Jay Z has finally announced his decision to move forward with his Barneys New York collaboration. The hip-hop mogul came under public pressure that he back out of the deal after the store was accused of racially profiling its customers.

A statement posted on his website Friday said he'd agreed to move forward with the launch of his collection, called BNY SCC, under the condition that he would be allowed to help the store review its policies. Interesting deal, huh?

Jay Z's statement said:

"The easy position would have been to walk away and leave policymaking to others hoping that someone addresses the problem. I will take this into my own hands with full power to recommend., review and revise policies and guidelines moving forward. I am choosing to take this head on."

Jay Z also said 100 percent of the sales from his collection will go towards his charitable foundation, The Shawn Carter Foundation, which supports educational opportunities for disadvantaged students. Barneys has also agreed to donate 10 percent of all sales made on Wednesday during the collection's launch.

In a statement, Barneys guaranteed raising a minimum of $1 to donate to the foundation.

The statement also said:

"Barneys New York has zero tolerance for any form of discrimination," the statement said. "As we have stated all along, if we learn any procedures or practices are not consistent with our zero-tolerance policy, we will immediately take corrective action including terminating those employees responsible."

Last month, two black customers separately accused the store of racial profiling after shopping at the store and later being detained by police for suspected credit card fraud.