Diddy saves former fashion brand Sean John from bankruptcy by buying it back for $7.5million
P diddy has saved his former fashion brand Sean John from bankruptcy by buying it back for $7.5 million.
In a statement to his media company REVOLT, he said: “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.”
Diddy sold his 90% stake to Global Brands Group in 2016 for a reported estimate of $70million.
Many celebrities such as Mariah Carey, Nelly, T.I and Mary J. Blige have modelled Sean John.
We’re happy Diddy has Sean John back!