Diddy has agreed to pay $7.5 million to buy the bankrupt brand Sean Jean. He was original founder of the fashion brand back in 1998.
“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” – Sean “Diddy” Combs
Sean John was owned by Global Brands Group which is filling for chapter 11 bankruptcy protection. The deal will become official once the court approves the purchase.