The highly anticipated collaboration between Jay Z and Barneys New York has been under attack since two African American customers accused the luxury store of racial profiling last week. Jay Z himself has been a main target of the criticism with increasing pressure to make a statement about the incident.

This pressure supposedly became too much, Jay Z claimed with, "negligent, erroneous reports and attacks on my character, intentions, and the spirit of this collaboration."

Jay Z made his official statement on Saturday on his site lifeandtimes.com. "I haven't made any comments because I am waiting on facts and the outcome of a meeting between community leaders and Barneys. Why am I being demonized, denounced and thrown on the cover of a newspaper for not speaking immediately?" the mogul asked. "If I make snap judgments, no matter who it's towards, aren't I committing the same sin as someone who profiles?"

Twenty-five percent of the sales from Jay Z's Barneys collaboration will go to the Shawn Carter Foundation. "Making a decision prematurely to pull out of this project wouldn't hurt Barneys or Shawn Carter but all the people that stand a chance at higher education," he said. "My idea was born out of creativity and charity... not profit."

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