After a four-party bidding war, Sean Love aka Diddy purchased back Sean John’s bankrupt brand for $7.5M. The ‘deal will close this week’
Sean John, a premium brand I created in 1998 to break down tradition and introduce hip hop high fashion on a worldwide scale was the purpose of my founding it,” the 52 year-old rap mogul said to TMZ on Tuesday.
“Seeing the evolution of streetwear to redefine fashion standards and influence culture across all categories, it made me realize that I was ready to seize control of the brand and build a group of visionary designers to help write the next chapter in Sean John’s story.
CEO: Three-time Grammy winner Sean ‘Love’ Combs aka Diddy bought back his bankrupt Sean John brand for $7.5M after a bidding war with four other parties, and the ‘deal will be finalized this week’ (pictured in 2019)
Sean John, which started as a brand of designer jeans, is back on the official Combs Enterprises list.
Diddy won the 2004 Council of Fashion Designers of America Menswear Designer of the Year award. Also, FiFi Awards were presented for Unforgivable, and I Am King fragrances.
At one point the clothing business was so low that it broke several Honduran labor law and used secretly raccoon hair fur for jackets.
All clothing items on Sean John are now’sold out’ as of Tuesday.
52-year-old rap mogul, said Tuesday to TMZ: ‘I am ready to reclaim brand ownership and create a team with visionary designers to write the next Chapter of Sean John’s Legacy’.
High Point: Diddy (M., pictured 2008), was named menswear design of the year by the Council of Fashion Designers of America in 2004, as well as the FiFi Awards for his two fragrances.
Low point: Honduran Labor Laws were violated by this clothing company. They secretly used the fur of raccoon dogs to create jackets. (Photo taken in 2018
Incapable to buy: Every item on Sean John’s website has been marked as “sold out” since Tuesday.