Jay Z is moving forward with his partnership with Barneys New York despite the controversy over allegations of racial profiling at the luxury retailer. The rap mogul has been pressured to cancel his "A New York Holiday" collection with the store after two African-American shoppers were wrongfully stopped by police in separate incidents after making expensive purchases.

Hov issued a statement on his Life and Times website announcing that he will continue his BNY SCC collection with 100 percent of the profits going to the Shawn Carter Foundation. The statement reads:

In the past several weeks two separate investigations were launched as a result of the wrongful detention of Trayon Christian and Kayla Phillips. My team has been privy to the status of the Barneys third party consultant investigation. In continuing our research, we also contacted the New York State Attorney General’s office for the status of their investigation into both Barneys and Macy’s. Those findings are not yet available.

While I await the findings of the Attorney General’s Office, I have agreed to move forward with the launch of BNY SCC collection under the condition that I have a leadership role and seat on a council specifically convened to deal with the issue of racial profiling. I am in a unique position to use my voice to affect change to this disturbing issue. The easy position would have been to walk away and leave policy making to others hoping that someone addresses the problem. I will not leave the outcome to others. 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.

As I previously stated, the collaboration with Barneys has always been about giving and The Shawn Carter Foundation. From this collection, the Foundation will receive not only 25% of sales, it will now receive the additional 75% of Barneys’ sales, totalling 100% of all sales from BNY SCC. Along with 100% of sales from the collaboration, the Foundation will receive an additional 10% of all retail sales from Barneys New York stores nationwide and Barneys.com on November 20th. -- Shawn “JAY Z” Carter

An investigation by the state attorney general’s office is currently “ongoing and active,” said a spokeswoman Friday (Nov. 15).

Jay Z’s "A New York Holiday" collection will launch on Nov. 20 at Barneys New York.

Since Jay Z will not make a profit from this collection, do you agree with his decision to continue with the Barney collaboration? Tell us in the comments below.