News

Diddy Regains Control Of Sean John And Prepares For Global Domination

We thought we told you that he won’t stop!


Cause he absolutely doesn’t.

Hip-Hop mogul Sean “P. Diddy” Combs is now (again) the owner of his fashion brand, Sean John.

The man who brought the world The Notorious B.I.G., MA$E, and Total dished out $7.5 million to pull his beloved clothing line out of bankruptcy.

The price tag wasn’t cheap, but Diddy sold 90% of the brand to GBG USA Inc. in 2016, reportedly for around $70 million.

[embedded content]

It wasn’t easy.

Despite the brand bearing his first and second name, he had to participate in an auction against four other parties to reclaim his rights.

Initially, he set up $3.3 million as his starting point in the auction, but bids continued to come, and he wound up paying a little over double to get his line back.

He, as Puff usually does, emerged the victor!

“I launched Sean John in 1998 with the goal of building a premium brand that shattered tradition and introduced Hip Hop to high-fashion on a global scale,” says Brother Love. “Seeing how streetwear has evolved to rewrite the rules of fashion and impact culture across categories, I’m ready to reclaim ownership of the brand, build a team of visionary designers and global partners to write the next chapter of Sean John’s legacy.”

As reported by AllHipHop.com, Sean John went into bankruptcy after the brand’s 90% owner, GBG USA Inc., fell on financial hardships.


[embedded content]

Are you ready for a new velour tracksuit? Or do you think he is about to hit us with something brand new?














Adblock test (Why?)

Go to Source
Author: AllHipHop Staff

Powered by WPeMatico

Comments
Comments