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Luxury department store Barneys New York is calling off an event to celebrate their "New York Holiday" collaboration with Jay Z.  

"Women's Wear Daily" reports that the event was supposed to be a fundraiser for Jay Z's charity, the Shawn Carter Foundation, and was set to take place Wednesday. 

The cancellation comes just days after Jay Z and Barneys announced that they were going forward with their partnership despite accusations of racial profiling against Barneys. 

Jay also said that all proceeds from his "New York Holiday" line will be given to the Shawn Carter Foundation.  

Meantime, fans are getting their first look at one of the first items from Jay's collection.  The Just Don suede cap became available this week and will set customers back $695.  

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