Music mogul, Sean “Diddy” Combs, has reacquired his Sean John clothing brand for $7.5 million. Earlier this year, the brand’s former parent company Global Brands filed for Chapter 11 bankruptcy. Combs had to pay double the initial bid to regain his past investment.
In a statement, the Ciroc Brand Ambassador commented:
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. 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.
It will be interesting to see just how Diddy plans to reinvent Sean John in the future, however, one thing that cannot be disputed is his business acumen.
Reportedly, Diddy netted $70 million when he initially sold the brand to Global Partners back in 2016. After some recent legal battles against the company, one can assume he is pleased to only pay $7.5 million for the reacquisition.