Sean 'Diddy' Combs takes back control of Sean John brand
Rapper, producer and entrepreneur Sean “Diddy” Comb reclaimed ownership of Sean John, the lifestyle brand he founded in the late 90s, with a $7.55 million bid at a bankruptcy auction held by Global Brands Group (GBG) on Tuesday.
According to court documents, Combs, whose bid was made via SLC Fashion LLC, beat out other bidders including United Ventures to take back control of his brand at a time when the noughties stylings it is synonymous with are seeing a revival. The transaction is set to be considered for approval by a federal bankruptcy judge on Wednesday.
“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,” Combs said in a statement cited by 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.”
Combs sold a 90% stake in Sean John to GBG in 2016, claiming that the partnership would help the brand reach millennial customers more effectively.
The relationship has since deteriorated, though, with Combs ultimately hitting GBG with two lawsuits earlier this year. One accused the company of “false endorsement, misappropriation of likeness and violating [Combs’] publicity rights” in relation to the launch of a womenswear collaboration between UK-based fashion retailer Missguided and Sean John. The other concerned the use of the “Vote or Die” trademark. On both occasions, Combs seemed to take issue with GBG suggesting that he had endorsed or been involved in projects that he had had no part in.
In the end, these suits were dropped when, struggling with the effects of the Covid-19 pandemic, GBG’s U.S. unit filed for Chapter 11 bankruptcy this summer.
Copyright © 2022 FashionNetwork.com All rights reserved.