Jay-Z regrets not getting Rihanna's umbrella out

Jay-Z wishes he had released a range of umbrellas when Rihanna's song of the same name was a worldwide hit.

The music mogul – who personally signed the pop beauty to his label Def Jam Records and runs his own clothing line Rocawear – admits he made a mistake by not cashing in on her 2007 single when it was riding high.

He said: "We really should have had some Rihanna Rocawear umbrellas when that song became a hit. We could have made a load of money on those. I'm still kicking myself."

Jay-Z – who is married to Beyonce Knowles – believes the signature umbrellas would have helped him on his way to fulfil his dream of making Rocawear a $1 billion company.

He added to Women's Wear Daily magazine: "The goal is to make Rocawear a $1 billion company. It may take us more time than we would like since the economy is in the shape that it's in, but I'm confident that we will get there.

"People want a quality product, which is what I want Rocawear to be known for - we make a damn good pair of jeans, that's why people buy them." At the height of the song's success, fans started taking umbrellas with them to Rihanna's concerts so they could copy her dance routine.

However, the rain protecting items were eventually banned from shows to stop audience members from injuring themselves.