Sean ‘Diddy’ Combs has bought back his Sean John fashion brand following a bankruptcy auction.
The hip-hop superstar founded his menswear line back in 1998, but sold off the label to Global Brands Group in 2016.
When Global Brands Group chiefs filed for bankruptcy in July, the Sean John label was auctioned off, and Diddy has regained control in a deal worth a reported $7.5 million (£5.6 million), according to documents filed in Manhattan federal bankruptcy court on Tuesday.
“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,” Diddy said in a statement to Billboard.
“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.”
The brand was a major hit with fashion-conscious men in the early 2000s, with Diddy popularising its streetwear by often appearing in Sean John apparel.
At the brand’s peak, Diddy was named menswear designer of the year in 2004 by the Council of Fashion Designers of America (CFDA) as well as winning FiFi Awards for its fragrances, Unforgivable and I Am King.
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