After buying out of bankruptcy his clothing brand, Sean John, for a steal, P.Diddy is now the proud owner of his clothing brand again.
The rap mogul won the rights to Sean John after a bidding war with 4 other parties. The deal will be finalized this week and the guy is pretty excited about it.
He tells them. Sean John was launched in 1998 with the goal of breaking tradition and introducing Hip Hop to high-fashion on a global scale.
Sean John's legacy is going to be written by a team of visionary designers and global partners, and I'm ready to take ownership of the brand.
We told you that the SJ line fell into bankruptcy under the management firm. Mr. Combs was interested in regaining control when he heard about the assets being up for grabs.
After some back and forth among others who were interested, he settled for over double the initial bid of $3.3 mil. If he can breathe new life into the threads, it's a helluva deal.
